South Korean cryptocurrency exchange giant Bithumb is eyeing to Issue a cryptocurrency in Singapore.
Several exchanges fro different arts of the world have integrated their own cryptocurrency to their platforms, Binance is one of them.
But the South Korean exchange Bithumb, announced that they are going to launch a virtual currency known as Bithumb Coin in Singapore.
One of the most important cryptocurrency exchanges in the market, Bithumb, has decided to launch its own virtual currency dubbed Bithumb Coin.
The said South Korean exchange is one of the most important in the world by trading volume, managing $1.13 billion dollars in the last 24 hours.
According to the South Korean news outlet, TokenPost, Bithumb has decided to launch its own token in Singapore due to the strict regulations imposed by the South Korean government. It is important to remark that Initial Coin Offerings (ICOs) are banned in South Korea since September 2017.
As of writing, Bithumb did not give any explanation or information about the schedule when it will be launched, or how it is expected to work.
According to a Bithumb spokesperson, the intention is to attract important investors with the new ICO that will be carried out in Singapore.
Bithumb Coin will be a similar cryptocurrency to Binance Coin and Huobi Token, in this way, the exchange will bring additional liquidity to the trading platform.
Both tokens have been launched on the Ethereum’s network and the Binance Coin will be used in the future as the native token of a decentralized crypto exchange.