BTCC (bitcoin company)

BTCC is a United Kingdom-based crypto exchange established in June 2011. It is one of the world's longest-running crypto exchanges, with a 24-hour trading volume of over $6 billion. The exchange underwent a significant restructuring in 2018, closing its offices in China and expanding its business globally since then.

In 2022, BTCC launched tokenized futures, an innovative product invented by the exchange, on its platform, allowing users to trade stocks and commodities futures with USDT as the margin.

History

BTCC was founded in June 2011. Given that Bitcoin was created in 2009, BTCC is well-known for its long establishment in the cryptocurrency market. BTCC now stands for 'BTC & Crypto', as stated on the company's official website, although it used to mean 'BTC China'.

Former company CEO Bobby C. Lee approached the then two-person company in early 2013, and after investing his own money and attracting investors, oversaw the company's rapid expansion and market share growth by the end of the year. The Stanford computer science graduate, whose brother Charlie founded the cryptocurrency Litecoin, previously worked for Yahoo! in the United States, and as vice president of technology for Walmart China.

In November 2013, BTCChina raised $5 million in Series A funding from investors, Lightspeed China Partners, and Lightspeed Venture Partners.

On 18 December 2013, BTCChina announced that it was temporarily suspending acceptance of Chinese Yuan deposits, attributing the decision to government regulations, following a December statement from the People's Bank of China (PBOC). On 30 January 2014, the exchange resumed accepting yuan deposits, after further studying the PBOC statement and other rules. While the PBOC prohibited banks from trading in Bitcoin, BTCChina explained that they were accepting Yuan into their corporate bank account, and transferring that money to their customer accounts, before it was traded for bitcoins.

In 2018, BTCC reorganized and established multilingual regional businesses such as Taiwan, Japan, and South Korea. Localized language revisions are released at the same time.

In May 2022, BTCC obtained a cryptocurrency licence from the Registrar of Legal Entities of Lithuania, enabling the company to operate legally in Europe.

In June 2022, BTCC celebrated its 11th anniversary by revealing its new logo. The combination of solid red, blue, green, and black is restyled to a professional blue to showcase its reputation as a reliable crypto exchange since 2011.

In October 2022, the BTCC platform reached over 1 million monthly active users.

In November 2022, BTCC launched tokenized futures on U.S. stocks and commodities, including gold, silver, AAPL, META, and more. No tokens have been launched, but only futures trading services are provided to users. The futures are pegged at a 1:1 ratio with the stock and commodity prices, allowing users to buy or sell futures using USDT as the margin.

In the same month, a forum-based feature, 'Social', was launched for the Taiwanese market, enabling users in Taiwan to share their views and crypto trades with other users on the platform. In addition, influencers, media outlets, and analysts can also become verified users on the platform to post their insights on the crypto market.

As of December 2022, the exchange provides USDT-margined and coin-margined futures trading on more than 50 highly-liquid cryptocurrencies, including BTC, ETH, DOGE, and more, with a leverage of up to 150x. The exchange's 24-hour trading volume is over $12 billion, ranked 3rd in the derivative exchanges on CoinGecko.

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{{Cryptocurrencies, state=expanded

Bitcoin exchanges
Chinese companies established in 2011