Last Updated on May 26, 2021 by Jason
Upbit, one of the largest crypto exchanges in South Korea, says that it plans on expanding to more countries in Southeast Asia. Sirgoo Lee, CEO of Dunamu which is Upbit’s parent company, explained that the company is ‘looking at other countries’ to expand its services in.
The exchange was launched in 2017, and expanding into new locations could be a good move. It would be especially positive considering at one point the exchange was looked upon with suspicion by authorities in Korea who were concerned about possible fraud.
Lee said “We’re looking to expand overseas. We did open shop in Southeast Asia and we are expanding our exchanges in that location.”
He said that they are considering a number of different options, but didn’t disclose any specifics. Upbit expanded to Thailand at the beginning of 2021, once their business license for Thailand had been approved.