Chinese Multi-Coin Exchange Yuanbao Adds Support for Factom Tokens

Factom, the blockchain-enabling records management project, announced today that Yuanbao, a Chinese cryptocurrency exchange, has added support for Factom’s digital tokens, Factom has also chosen Yuanbao as its officially recommended partner in Asia.

Launching in 2013, Yuanbao’s exchange is one of China’s largest mutliple cryptocurrency exchanges, with 18 coins having been successfully traded on the platform.

Following Yuanbao’s exchange announcement, deposits and trading of Factom’s digital tokens, called factoids, will be available for users in different time-zones according to the following details:.

  • Friday, 18 December 2015, 3:00 PM China Standard Time (07:00 AM GMT/UTC, 02:00 AM EST). Deposit of Factoids will be opened so that users can prepare themselves for trading and deposit the necessary funds.
  • Monday, 21 December 2015, 10:00 AM China Standard Time (02:00 AM GMT/UTC, Sunday 20 December 2015, 09:00 PM EST). Trading of Factoids/CNY officially opens.

Paul Snow, Factom Chief Architect, commented on the offering:

We are looking forward to supporting public and private projects in China that leverage the blockchain. And partnering with Yuanbao is a significant and strategic step to building Factom’s presence in China.

Jelena Strelnikova, Foreign Cooperation Officer, Yuanbao, added:

Our experience working with Factom was very pleasant and productive. We are happy to support a leading company like Factom on our exchange. Of course, we will look forward to working together and melding together our strengths based on their promising blockchain applications.

Jack Lu, Factom CTO, said:

Factom has been well accepted in the Chinese community. Partnering with Yuanbao is a very important step of Factom’s plan to land in China. The partnership will further deepen the roots of Factom into the community.

Factom apparently laid the groundwork for the factoids offering in China when it sent Lu and Factom’s Chairman of the Board, David Johnston, to the Global Blockchain Summit in Shanghai in October.