Upbit, the largest cryptocurrency exchange in South Korea, revealed its plans to introduce a new trading pair featuring BLUR, a prominent digital asset, and the Korean fiat currency, KRW. This development aims to enhance accessibility and convenience for Korean investors seeking to diversify their cryptocurrency portfolios. Upbit has also emphasized the importance of deposit audits, ensuring a transparent and secure trading environment for its users.
Upbit’s decision to introduce the BLUR-KRW trading pair comes as a response to the growing demand for diverse investment options within the Korean cryptocurrency market. By incorporating the Korean fiat currency, Upbit aims to bridge the gap between traditional financial systems and the evolving realm of digital assets.
One key aspect emphasized by Upbit is the implementation of deposit audits. As part of their commitment to transparency and security, Upbit has initiated a review process that includes analyzing the flow of funds associated with user deposits. This rigorous examination ensures that all transactions on the platform adhere to strict compliance standards and mitigates the risks associated with illicit activities.
To maintain a secure trading environment, Upbit has set forth specific guidelines for deposit audits. The review process must be completed before deposits are reflected in users’ accounts. This measure ensures that only legitimate funds are integrated into the platform, reducing the likelihood of fraudulent activities and protecting the interests of the user community.
Just In: South Korea's largest exchange, Upbit, announced the launch of BLUR's Korean fiat currency KRW trading pair. Upbit said that a certain amount of deposits may be audited, and these audits include analysis of the flow of funds. If the review is not completed, the deposit… — Wu Blockchain (@WuBlockchain) June 27, 2023