In a provocative first for the cryptocurrency space, mining pool ViaBTC is launching Bitcoin Cash (BCH) trading pairs on its newly migrated exchange CoinEx.
ViaBTC was forced to shutter CoinEx’s China-based operations in October, when Chinese Communist Party officials mandated domestic cryptocurrency exchanges be shuttered in the nation indefinitely. Now, ViaBTC has moved CoinEx’s operations to the United Kingdom and hopes to re-open the exchange with a bang thanks to first-mover BCH trading pairs.
The news is a major adoption development for Bitcoin Cash at a time when the BCH community is trying to poach new users while the legacy Bitcoin network has been experiencing congestion and high transaction fees.
Sara Ouyang, ViaBTC’s chief operating officer, asserted that BCH’s optimization for payments made it a natural fit going forward:
“The reason we chose [bitcoin cash] over [bitcoin] is that it has much faster transactions with low fees and better performance in terms of usability.”
— Bitcoin Cash (@BITCOlNCASH) December 8, 2017
That statement is music to the ears of Bitcoin Cash aficionados.
And it opens the doors for new merchant possibilities if the BCH ecosystem can keep angling itself as it has been. Consider, for example, how online gaming marketplace Steam just dropped Bitcoin (BTC) payments due to that chain’s acutely high fees.
And while stilling trailing Bitcoin and Ethereum in overall adoption, Bitcoin Cash has notched several other notable “wins” in recent days that have users more enthusiastic than ever.
For example, the CEO of Yours recently announced that the company would be relying on BCH over competitors like Bitcoin and Litecoin (LTC).
Back on the subject of CoinEx, the exchange aims to offer BCH/LTC, BTC/ETH, BTC/DASH, BTC/ZEC, and — of course — BCH/BTC trading pairs.
TLDR: The brains behind ViaBTC are re-opening the CoinEx exchange in the U.K., and they’re re-launching it with Bitcoin Cash trading pairs.