Upbit, the South Korean cryptocurrency exchange has been reportedly initiated marketing its new crypto exchanges in Thailand and Indonesia. Following suit to the company’s plans of global expansion over 130 coins and 240 trading pairs will be offered on both of the new Upbit exchanges, according to their websites.
One of South Korea’s largest cryptocurrency exchanges recently launched an exchange in Singapore and now enters the crypto-space of Thailand and Indonesia. The company plans for the new exchanges to support the baht in Thailand and the rupiah in Indonesia. According to the local media, the exchange will operate in their local languages and both the countries will have their own website. Edaily quotes Upbit on Friday that “Both countries appreciate the growth potential of the cryptocurrency industry.” The publication further stated:
Thailand and Indonesia are very interested in blockchain and cryptocurrency, so we thought it would be a good thing to have an online presence before launch.
Operated by Dunamu Inc., an affiliate of Kakao Corp. which operates the country’s most popular chat app, Kakaotalk, Upbit is also affiliated with U.S.-based exchange Bittrex. The news outlet elaborates that the Dunamu CEO Lee Seok-woo was planning overseas expansion for his exchange:
“From the outset of the Upbit business, the company had a blueprint to become a global foreign exchange, not limited to the domestic market.”
The Thai Upbit website welcomes its visitor with a message, “Prepare to meet Upbit Thailand soon”. Other information on the websites states that the service is in “closed beta” phase and is currently only available to a limited number of early registrants. There will be 131 coins listed and 241 trading pairs.
Subtler than its Thai counterpart the Indonesian website shows a message that translates into – “Buy and sell the latest crypto assets from our partner, Bittrex, the premium exchange from the United States”. According to the website, 156 coins and 276 trading pairs will be supported.
Read more: Korean Bar Association Believes Cryptocurrency Investor Protection Laws are Necessary
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