Upbit to Launch UBCI, Korea’s First Crypto Index

UBCI was developing since the launch of Upbit in October 2017
23 March 2018   420

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. 

Line to Launch Bibox Exchange in Singapore

Bitbox supports 28 digital currencies, including Bitcoin, Ethereum, USDT, XRP, Litecoin, Ethereum Classic, Bitcoin Cash, Bitcoin Gold, MonaCoin, Qtum and Golem
16 July 2018   152

One of the most popular messengers in Asia Line has launched a Bitbox exchange in Singapore. Trading on the platform started this morning and is limited to pairs with crypto-currencies, Cryptovest reports.

Bitbox supports 28 digital currencies, including Bitcoin, Ethereum, USDT, XRP, Litecoin, Ethereum Classic, Bitcoin Cash, Bitcoin Gold, MonaCoin, Qtum and Golem.

BITBOX is only for trading cryptocurrencies (Digital Tokens). Fiat currencies (USD, KRW, etc.) cannot be exchanged on BITBOX.
 

Bitbox Website

Bitbox charges a 0.1% commission and supports 15 languages, including English, Korean, Chinese, Spanish, French and German. In Russia, the US, Japan and some other countries, the exchange is not available.

At the beginning of the year, Line Group applied for a license to the Japan Financial Services Agency, but the process dragged on because of tightening of the regulator's requirements in the light Coincheck exchange hack. All crypto exchange, wishing to provide services in the Japanese market, are required to obtain permission from the local regulator.

Currently, Line is also in the process of obtaining a license in the US. The company decided to open its first trading platform for crypto-currencies in Singapore, as this city-state adheres to a progressive approach to the regulation of the digital currency sphere.

With cryptocurrency, we are going to take our challenge in financial services global.
 

Takeshi Idezawa

CEO, Line

In May, Line Group denied rumors that it intends to release its own token and distribute it through the ICO. Every month Line is used by about 200 million people. The messenger is extremely popular in Japan, South Korea and Thailand.