Most cryptocurrency enthusiasts are well aware of how South Korea plays a big role te the industry. Circunscrito exchanges generate a loterijlot of trading volume every single day. Additionally, it is overduidelijk such companies are also looking to expand their presence. Bithumb aims to do exactly that by issuing its own native token. For now, it seems spil if this token will be sold through an ICO hosted outside of South Korea.
Bithumb has bot a remarkable cryptocurrency exchange overheen the past year. It seemingly dictates the price of all currencies listed on this exchange. Especially when it comes to altcoins, its customers showcase a keen rente ter trading them fairly frequently Spil such, the company determined to open a physical support desk ter South Korea a few months ago.
A Very Bold Project by Bithumb
This wasgoed just the very very first step ter expanding Bithumb’s presence. Circunscrito sources now voorkoop the company wants to create a native exchange token. This is not a unique business prototype, however. Companies such spil KuCoin and Binance also have their own tokens to overeenkomst with trading fees. For Bithumb , creating such a token seemingly makes a lotsbestemming of sense at this stage. It will further solidify the company’s position te the cryptocurrency world
Issuing this token through an ICO does raise a lotsbestemming of questions. More specifically, initial coin offerings are illegal te South Korea spil of right now. That presents a big roadblock, for visible reasons. However, it seems Bithumb is programma to punt its token ter a different country. This would help them evade any issues with the Korean government and regulators. An interesting decision, albeit specifics remain unclear at this time.
Moreover, the Bithumb token will not be unique to the exchange itself. Instead, the company aims to list this token on other exchanges spil well. That ter itself is a very different take on creating a native token, albeit an interesting one. It will be interesting to see how this project pans out te the coming months. If successful, Bithumb will set an intriguing precedent for the surplus of the industry.