Popular Crypto Exchange Upbit has Opened Shop in Thailand and Indonesia

Popular Crypto Exchange Upbit has Opened Shop in Thailand and Indonesia

crypto exchange Upbit

A recent report made it known that Upbit, one of the largest South Korean cryptocurrency exchange has expanded its operations to Thailand and Indonesia. The report made it known that the exchange Upbit is marketing its services to these two regions in each one’s local dialects. This move by the exchange has been described as its first steps towards global expansion.

Over 130 Coins and 240 Trading Pairs

The report made it known that the two exchanges will have more than 130 coins listed on them and at least 240 trading pairs will be available for trading on the platform.

The report also made it known that each of the countries has a unique website dedicated to it. This way users from each country get to enjoy the platform in their local dialects.

This was made known through a report from Upbit which reads:
“Both countries appreciate the growth potential of the cryptocurrency industry.”

The report also quoted the exchange saying:
“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.”

This move by Upbit has been described as a significant step towards the actualization of the company’s CEO, Lee Seok-woo.
Lee is also the CEO of Dunamu Inc., which is the parent company of Upbit and an affiliate of Kakao Corp—owners of South Korea’s popular chat app, Kakaotalk. A previous report has also shown an affiliation between the U.S.-based exchange Bittrex and Upbit.
Lee Seok-woo also commented on the launch of these two country-specific exchange websites, he stated that:
“From the outset of the Upbit business, the company had a blueprint to become a global foreign exchange, not limited to the domestic market,”

Upbit Already Launched in Singapore

It is also important to note that Upbit recently launched an exchange in Singapore and several reports has it that this exchange supports Singapore Dollars. Going by this, the two new exchanges are also likely to support the country’s local currency, the baht in Thailand and the rupiah in Indonesia.