Crypto Exchange Bithumb To Launch Its Own Token In Singapore

Crypto Exchange Bithumb To Launch Its Own Token In Singapore

cryptocurrency exchange
April 20, 2018 by Bitzamp
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Crypto Exchange Bithumb To Launch Its Own Token In Singapore South Korea-based crypto exchange Bithumb has announced its intention to launch its own cryptocurrency, the Bithumb coin. To help stamp their presence in the crypto-market top crypto exchanges develop their own crypto coins. Since they already have a platform, it helps them market the coins.
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Crypto Exchange Bithumb To Launch Its Own Token In Singapore
South Korea-based crypto exchange Bithumb has announced its intention to launch its own cryptocurrency, the Bithumb coin.

To help stamp their presence in the crypto-market top crypto exchanges develop their own crypto coins. Since they already have a platform, it helps them market the coins.

According to the report, the sale of Bithumb tokens takes place in Singapore since the ICOs are banned in South Korea. Bithumb focuses on large-scale investors instead of individual investors. Bithumb did not confirm when the coin will be released, or the size of the company, according to TokenPost.

A source familiar with the situation stated:

“We know that the Bithumb coin is underway at a local subsidiary acquired by Bithumb’s subsidiary,” said a person associated with Bithumb (loosely translated). “Details such as the specific schedule and issue size have not been confirmed.”

Bithumb is only the latest of a growing number of cryptocurrency exchanges that have made the decision to create their own tokens. Exchanges are increasingly using native tokens as a way to incentivize users to use and continuously support business.
Bithumb notably was the victim of a major security breach last year, which saw cybercriminals make off with billions in users’ won.


 

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