Upbit to Launch UBCI, Korea’s First Crypto Index

UBCI was developing since the launch of Upbit in October 2017
23 March 2018   1147

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. 

Bitfinex to Introduce Sub-Account Feature

This system was launched after users' requests and it gives them an ability to experiment with several trading strategies simultaneously
21 January 2020   73

The Bitfinex cryptocurrency exchange has announced a new feature that allows users to create multiple sub-accounts under one master account.

As the technical director of the company Paolo Ardoino noted, the introduction of this option occurred almost at an ideal time, taking into account the growing interest in cryptocurrencies from institutional investors.

The Bitfinex blog says that the sub-account system has been introduced at the request of many users.

According to the proposed scheme, users will be able to experiment with several trading strategies at the same time, while Bitfinex will use the combined trading volume for all related accounts, offering general discounts on commission according to the structure of calculating commissions.

If the user account is verified, the client can choose which sub-account will use this data, giving it all the relevant advantages. In addition, each sub-account can be verified individually.

Users will also be able to send funds from the master account to the wallets of their chosen sub-account.

When creating a sub-account, it is tied to the main user account, which will continue to act as a master account. Only the master account has the authority to create sub-accounts (up to 100), it is also endowed with a number of other functions, including changing the viewing mode, changing e-mail, etc.