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The Kakao operator opens a new "upbit". of Korean Cryptocurrency Exchange in Beta

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Dunamu, a South Korean subsidiary of FinTech, a subsidiary of the largest Kakao messaging platform, opened its new cryptocurrency exchange. Upbit for beta testing.

Dunamu first revealed the details of "Upbit & # 39; its new cryptocurrency exchange earlier in September, developed in partnership with the Bittrex US exchange. The planned launch will see Upbit endure an unprecedented cryptocurrence of 110 for a Korean exchange, a feature that, according to Dunamu, will propel Upbit to become the largest cryptocurrency exchange in South Korea.

"During the initial phase of the service, Upbit will mainly deal with bitcoin and other major coins such as ethereum, ripple and litecoin, with a volume of transactions greater than a certain amount", extracted from Korean newspaper Joongang Daily. ad. "The ultimate goal of the platform is to allow the trading of 111 different chips from 167 different markets."

Upbit will support markets supported by four core currencies, including the Korean won (KRW), bitcoin (BTC), Ethereum (ETH) and anchor (USDT).

In a new Business Korea report, Upbit has opened its doors to users to test its service this week. The exchange is currently in the beta phase and users will be able to access the platform via Android and iOS apps next to its desktop website.

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Dunamu CEO Song Chi-hyung said:

Through the partnership with Bittrex, we are not only able to support the largest number of digital currency trading services, but we have also solved issues such as Altcoin's existing investments, delays and complicated management of accounts. Starting from a ten open beta service, we plan to provide optimized services for the domestic market conditions.

Dunamu is also the operator of Kakao Stock, the most popular equity trading application of South Korea. Kakao Corp's popular KakaoTalk messaging application is arguably the most widely used app in all of Korea, with around 93% of the country's population communicating on the platform. Dunamu confirmed that Upbit traders could take advantage of its very popular ecosystem by linking cryptocurrency traders with Kakao Talk and Kakao Pay, the company 's mobile payment subsidiary with nearly 15 million dollars. users in Korea.

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Image from Shutterstock.

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