Upbit Launches New Tokens to Expand Its Trading Pairs
It is reported that Upbit will launch tokens MASK and ACS to support KRW market trading pairs and BTC market trading pairs respectively. It is planned to start…
It is reported that Upbit will launch tokens MASK and ACS to support KRW market trading pairs and BTC market trading pairs respectively. It is planned to start trading at 15:00 Beijing time today.
Upbit will launch tokens MASK and ACS
Interpretation of the news:
Upbit, one of the leading cryptocurrency exchanges in South Korea, has just announced the launch of two new tokens: MASK and ACS. The goal of these tokens is to expand trading pairs in both the Korean won (KRW) and Bitcoin (BTC) markets. The tokens are expected to start trading at 15:00 Beijing time today, marking an important milestone for the exchange.
MASK is a token issued by MarS Protocol, a decentralized finance (DeFi) platform focusing on insurance products. By using the blockchain technology, MarS Protocol aims to provide users with transparent and automated insurance services, empowering them to manage their own risks. MASK will be paired with KRW and will be available for trading on Upbit’s KRW market.
ACS, on the other hand, is a token issued by ACryptoS, a decentralized platform of cross-chain trading and liquidity aggregation. ACryptoS is built on the Binance Smart Chain and aims to provide users with seamless access to DeFi applications across multiple chains. ACS will be paired with BTC and will be available for trading on Upbit’s BTC market.
By introducing these two tokens, Upbit hopes to offer its users more diverse and innovative trading options. Moreover, it underlines the exchange’s commitment to support the development of the DeFi ecosystem in Korea and beyond.
This move also illustrates Upbit’s strategic approach to expand its business in the global market. Earlier this year, Upbit’s parent company Dunamu invested in the US-based cryptocurrency exchange operator, Bitfront, and launched its own Singapore-based exchange. Furthermore, Upbit’s CEO, Lee Sir-goo, recently stated that the exchange is planning to expand its service to Southeast Asia, starting with Vietnam.
In conclusion, the launch of MASK and ACS is an important step for Upbit in its mission to expand and diversify its trading pairs. It also shows the exchange’s commitment to the development of the DeFi ecosystem, and its strategic approach to expanding its business overseas.
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