Kakao-affiliate Dunamu, the operator of major South Korean crypto trade Upbit, ideas to open a Singapore-primarily based trade up coming thirty day period, regional news outlet Yonhap News stories September 19.
According to Yonhap, Dunamu presently set up a branch in Singapore this February as component of its active push to expand throughout the Asian sector. Although the specific date of the Singapore trade launch stays to be finalized, the firm told Yonhap that the company will go reside as of early Oct.
Kim Kook-hyun, head of Upbit’s existing Singapore branch, is quoted as saying that:
“As Singapore has proactively supported blockchain technological know-how, our progression into the country will aid us protected many probabilities to guide a assortment of appropriate projects and to have world wide competitiveness.”
Upbit has viewed a surge in trading volumes, which are up 53.6 p.c on the working day, according to CoinMarketCap. As of press time, the trade is ranked the 10th most significant crypto trade globally, looking at all over $241 million in trades in excess of the 24 several hours to press time.
As formerly claimed, Kakao’s current Semiannual Report has proven that Upbit defied the bearish world wide crypto markets to publish a $100 million revenue in the third quarter of 2018.