South Korean-based cryptocurrency exchange giant Bithumb has exposed that it holds cryptocurrencies worth almost $6 million ter more than one cryptocurrency.
The crypto exchange exposed the awesome $6 billion reserve through its very very first audit report which it published recently. The report included the financial spectacle of the exchange and also cryptocurrency reserve. The crypto exchange exposed through the report that 220 employees and 15 shareholders. The reserve consists of different coins adding up to about $Five.9186 billion at the end of . This means that the reserve amount has gone up almost 220 times compared to the previous year.
Bithumb possesses 7 procent of the cryptocurrencies ter reserve valued at about 415.9 billion Won (South Korean currency) while the surplus of the cryptocurrencies were deposited by clients. It also stated that its operating revenue ter wasgoed $312 million. This is epic considering that its operating revenue ter the previous year wasgoed $Four.1 million. The crypto exchange had a netwerken profit of $501 million ter , thus marking an increase of $Two.Four million compared to the televisiekanaal profit ter the previous year.
Bitcoin has liked significant success te South Korea especially since it host Two of the fattest crypto exchange ter the world. Bithumb and Upbit both had a 24-hour trading volume of $1 Billion at the time of this press.
Bithumb has grown significantly overheen the past one year and it has also bot working on achieving more growth. A latest report recently exposed that it is presently working on launching a P2P payment system based on social media. The company is also teaming up with Wincube for a service through which they will sell mobile vouchers te the form of bounty certificates from 600 brands.
The announcement of Bithumb&rsquo,s audit report also comes after previous announcements that Bithumb will provide kiosks to eateries including cafes and restaurants so that it can facilitate payments through cryptocurrencies. The South Korean crypto exchange is also teaming up with various travel websites so to enable payment through digital currencies. It is also working on a different service that will facilitate crypto payments te more than 8,000 stores through a partnership with the country&rsquo,s Pay&rsquo,s service.
The list of supported cryptocurrencies is growing lately. Today Bithumb added Monaco (MCO) to their verhoging. Upon this announcement the price of Monaco teug 100% up.
The cryptocurrency exchange has bot on a mission to facilitate the adoption of cryptocurrencies. Having such a ample crypto reserve will come te handy for projects that the company will work on ter the future.