Upbit to Launch UBCI, Korea’s First Crypto Index

UBCI was developing since the launch of Upbit in October 2017
23 March 2018   827

Upbit, which is the second-largest South Korean crypto-exchanges and the fifth in the world, announced the launch of the first in South Korea's cryptocurrency index. This is reported by Business Korea.

Dunamu Holding, which owns the Upbit exchange, said on March 22 that it is launching a new crypto-currency index called UBCI (Upbit Cryptocurrency Index, ie "Upbit Crypto Currency Index").

UBCI was developing since the launch of Upbit in October 2017. The purpose of the index is to suggest to local investors how to trade on the market, and also to serve as a standard index on an international scale.

The present situation of the cryptocurrency market is quite similar to the traditional financial market based on stocks and bonds in its early stage. Accordingly, as the market gets more sophisticated, the UBCI is expected to play an important role in this area in the future. We will also disclose the index rulebook and let the market evaluate it before long.

Lee Seok-woo

President, Dunamu

The indexes developed this time are:

  • Market index
  • Sector index
  • Bitcoin Index
  • Strategy Index. 

Among them, Upbit will also launch the Market, Sector and Bitcoin Indices in April, while the Strategy Index will open later. 

Coinsquare to Acquire StellarX

StellarX team belives Coinsquare is a great fit and it will help to develop the exchange
15 February 2019   117

Coinsquare, the largest Canadian bitcoin exchange, has acquired the decentralized StellarX exchange. The deal became a natural continuation of the BlockEQ XLM purse purchase in December 2018.

The StellarX Exchange is built on the Stellar protocol and offers users peer-to-peer trading in a number of cryptocurrencies and even some fiat pairs.

Note that the site does not provide custodial services and does not have access to the means of users.

Coinsquare intends to request a license for StellarX from the regulators of Bermuda. The position of CEO of the platform will be taken by the head of BlockEQ, Megha Bambra.

From here, StellarX will continue along the roadmap we announced last Fall, led by a dedicated team at Coinsquare of developers and designers who will make StellarX into the product we know it can be. StellarX will continue to operate and grow under its own brand. [...] To fulfill its potential, StellarX needs a home with regulatory experience and with a full-scope plan to build around the app. Coinsquare is the perfect fit.

StellarX Team

At the beginning of last year, the Canadian stock exchange raised $ 30 million from Canaccord Genuity. In 2018, she entered the European market, and also planned expansion to Japan.