Most Popular Messaging App to Launch Exchange in Korea

A member of Kakao, South Korea's biggest informing stage, is set to dispatch a far reaching new digital currency trade exchange Upbit – which support more than 100 cryptocurrencies.

South Korean FinTech startup Dunamu, the administrator of the nation's most famous stock exchanging application Kakao Stock, has uncovered points of interest of another digital currency trade exchange called 'Upbit'. Dunamu, an affiliate of Kakao Corporation which sees its messaging application KakaoTalk utilized by 93% of South Korea's populace, purportedly said on Monday that Upbit will be the biggest virtual currency trade exchange in South Korea.

Upbit will be put to trial on a beta dispatch in October following an association with U.S-based computerized money trade Bittrex. The association empowers the destined to-be-propelled trade to enable clients to exchange digital forms of money not found on existing Korean trade exchanges. Bithumb, Korea's biggest trade by exchanging volume, at present offers bolster for seven digital forms of money as indicated by information on its site.

An article from joongang daily reads

During the initial stage of the service, Upbit will mainly handle bitcoin and other major alternative coins such as ethereum, ripple and litecoin with trading volume exceeding a certain amount. The platform’s ultimate goal is to enable the trading of 111 different tokens from 167 different markets.