Back to September
It has been reported that South Korean Internet company Kakao in partnership with the popular American crypto exchange Bittrex was going to launch a new trading platform, UPbit, in October.
The registration has been available on the website of the new exchange since its announcemet. At the moment of writing, there was no much info on the website except the release date of the app (October). The Korean exchange was to use the technologies developed by Bittrex. The companies were going to use the technology of Bittrex, likely rebranding their platform for Korean users, which means there will be 200 cryptocurrencies and assets available.
UPbit beta launched, October
Now, a South Korean fintech firm Dunamu, subsidiary of Kakao Inc.,launches Upbit in beta. Dunamu has started offering an open beta service for Upbit from October 24, 2017.
UPbit open beta has began. If you pre-registered when the original tweet went out, you were one of the first to see the list of altcoins. pic.twitter.com/fNZIqZ4M26
— UPbit Translator (@UPbitExchange) 24 октября 2017 г.
The platform supports markets that can be traded with Korean Won (KRW), Bitcoin (BTC), Ethereum (ETH) and Tether (USDT). In order to launch the exchange, Dunamu has signed an exclusive partnership agreement with the leading cryptocurrency exchange Bittrex. The BTC market, ETH market and USDT market will be offered through Bittrex.
With the partnership with Bittrex, we are not only able to support the largest number of digital currency trading services but also have addressed problems such as inconveniences of existing Altcoin investment, time delays and complicated account management. Starting with the open beta service, we are planning to provide services that are optimized to domestic trading conditions.
Dunamu Chief Executive
On top of that, Dunamu focused on improving dafety by adopting Bitgo’s double wallets for added wallet security and consulting Theori, a four-time winner of DEF CON hacking finals, for security as well.
During the open beta service period, users will be able to access all the functions of Upbit through desktop, Android, and iOS platforms.