South Korea's leading cryptocurrency exchanges—Upbit, Coinone, and Bithumb—are aggressively expanding their operations overseas, marking a significant shift in the global crypto exchange landscape.
Bithumb's Strategic Move into Security Tokens in the U.S.
On October 31, Bithumb announced a pivotal partnership with U.S.-based fintech firm Seriesone to launch a regulated security token platform. Key developments include:
- Formation of a U.S.-based joint venture to create an SEC/FINRA-compliant exchange for security token trading.
- Strategic investment by Bithumb into Seriesone's Korean entity to accelerate technical and marketing scalability.
👉 Discover how Bithumb is shaping the future of tokenized securities
Leadership Shift:
Singapore's BK Global Consortium recently acquired a majority stake (50%+1 share) in Bithumb, replacing BTC Korea Holdings as the largest shareholder. Seriesone also appointed Kaine Kim, former Vice Director of Korea's Financial Services Commission, to lead its Asian operations.
Upbit Launches Singapore Exchange with Ambitious Plans
Upbit Singapore debuted on October 30, featuring:
- 156 cryptocurrencies and 221 trading pairs.
- Initial support for SGD (Singapore Dollar), with plans to add more fiat currencies and expand across Southeast Asia.
Leadership: Alex Kim, former head of Kakao Indonesia, oversees the new exchange. Upbit emphasizes its ongoing collaboration with Bittrex to strengthen global market penetration.
"Our Singapore hub is just the first step in bringing compliant crypto trading to Asia-Pacific users."
— Lee Sir-goo, CEO of Dunamu (Upbit's parent company)
Coinone Establishes CGEX in Malta
Coinone expanded its footprint by launching CGEX in Malta on October 29. The exchange:
- Offers coin-to-coin trading with liquidity shared across Coinone's BTC markets.
- Integrates services from Coinone's Korean and Indonesian platforms for enhanced user access.
FAQs: South Korea's Crypto Expansion
Q: Why are Korean exchanges targeting overseas markets?
A: Stricter domestic regulations and growing global demand drive expansion into crypto-friendly jurisdictions like Malta and Singapore.
Q: How does Bithumb's security token platform differ from traditional crypto exchanges?
A: It focuses exclusively on SEC-approved tokenized securities, merging blockchain with regulated financial instruments.
Q: What currencies does Upbit Singapore support?
A: Initially SGD, BTC, ETH, and USDT, with more fiat options coming soon.
👉 Explore global crypto trading opportunities with South Korea's top exchanges
This article reflects the dynamic strategies of Upbit, Coinone, and Bithumb in adapting to the evolving digital asset ecosystem.
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