03/10/19 06:48 UTC-4

South Korean Bithumb Global exchange plans to expand despite a bank ban

ExchangesDespite the bank ban, the South Korean Bithumb Global exchange plans to expand
Despite the bank ban, the South Korean Bithumb Global exchange plans to expand

While India is awaiting a Supreme Court ruling on a bank ban on cryptocurrency transactions at the Reserve Bank of India, South Korean Bithumb Global exchange is planning to expand its operations. 

The exchange plan is not afraid of regulatory obstacles

Bithumb Global is a large crypto-exchange through which 59.19% of the volume of transactions in the BTC of the South Korean market passes, which makes up about 15% of the world market. From now on, the company sets itself the task of building a regulated exchange of cryptocurrencies in India. However, according to a notice from the Central Bank of India, the Reserve Bank and other banking channels are not allowed to process transactions in digital currency. For several months now, exchanges have been in favor of considering the feasibility of a bank ban.

During this time, Bithumb said that

“it will work with the Indian government to create a regulated exchange.”


To strengthen its market position, Bithumb will work with local cryptocurrency exchanges, as well as finance new startups. Javier Sim, co-founder and managing director of Bithumb, said the exchange will introduce new initiatives for Indian traders.

“We are open to communication with regulators, working with them to become a regulated exchange. We are a strong brand from Korea and do not engage in unregulated or illegal trade.”

Bithumb Global also launches a tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details
platform for Russian-speaking users with support for all services in Russian.

See also: "The new Binance app for iOS was tested in the App Store"

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Editor: Alyona Deryabina