One of Korea's most powerful corporations, and owner of the most popular messenger app, just launched UPBIT.com (online next month). Kakao Talk is Korea’s number one smartphone messenger app- 200 million users globally. Kakao Talk is installed on over 95% of smartphones in South Korea
DISCLAIMER - I have nothing to do with upbit, or kakao or whatever,. This is merely an informational post, as I deal in crypto currencies quite a bit!
WHY IS THIS IMPORTANT?
One of the most powerful companies of one of the most influential countries in the world has openly embraced Crypto currencies. It's massive - given the recent flak cryptos have been given by China and Jamie Dimon (CEO, JP Morgan)
Dunamu, the parent company of Kakao , also operates a popular securities trading app called Kakao Stock, a social trading service based on Kakao Talk = more penetration in the market
They already have a product - the chat app. And damn, it's successful.
South Korea is one of the few first world economies, who have accepted crypto. And this will help tide over the China ban fiasco
AND MOST IMPORTANTLY, Dunamu have an exclusive partnership agreement with Bittrex, which we all know. Bittrex doesn't really get into partnerships with any random company.
TOGETHER - THEY'll BE THE LARGEST CRYPTO EXCHANGE IN THE WORLD
Upbit will offer the trading of over 110 cryptocurrencies - at start.
KOREA IS MASSIVE FOR CRYPTO currencies. Along with Japan, the volume they can provide would be a lottery for the crypto markets.
PRE-REGISTRATIONS
- Pre-registration for Upbit started on Monday, September 25.
