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South Korean Bithumb will launch a decentralized exchange



Bithumb, a large South Korean bitcoin exchange, will launch a decentralized exchange oriented to the global market, BusinessKorea reports.

The launch of the Bithumb DEX is expected later this month. The new trading platform will become the international division of the company.

Technical support Bithumb in creating the platform has a blockchain start-up One Root Network. The latter already has its own decentralized exchange, the native token of which is traded under the ticker RNT .

According to the company, the new trading platform is part of the Bithumb plan to take a leading position in the global cryptocurrency market amid problems with the development of business in the domestic market and regulatory difficulties.

Recall that as a result of this summer’s hacking, a cryptocurrency worth 35 billion South Korean won was stolen from Bithumb (approximately $ 31 million at that time). Since then, the regulation of the cryptocurrency industry in South Korea has gradually tightened, and last month it became known that the Bithumb and Coinone exchanges would close the Fiat withdrawal for unverified traders .

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