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Bithumb To Issue It's Own Token "Bithumb Coin" In Singapore

Apr 20, 2018 Posted /  797 Views

Bithumb To Issue It's Own Token "Bithumb Coin" In Singapore

According to a local news publishing TokenPost, Bithumb, South Korea's driving digital currency exchange uncovered plans to issue its own token, Bithumb Coin in an Initial Coin Offering (ICO).

As per the report, the Bithumb token deal will be led in Singapore since ICOs are restricted in South Korea. Bithumb is supposedly concentrating on large-scale financial investors as opposed to individual investors. Bithumb did not affirm the release date of the coin, or the size of the undertaking.

Bithumb isn't the principal crypto trade to launch its own token. Early this year, Chinese crypto trade Huobi declared its intentions to issue Huobi Token (HT) that would be topped with 500 million tokens. Huobi stated that the token would not be an ICO, guaranteeing that only clients who are involved in the exchanging platform would be allowed to get HT token.

South Korea's Financial Services Commission (FSC) declared a restriction on ICOs last year, referring to great dangers of financial fraud. In March, this year it was announced that the South Korean government uncovered plans to local financial experts to sanction ICOs. While the FSC stays doubtful towards the  ICOs, local financial specialists are endeavouring to approve them by empowering strict Know Your Customer and Anti-Money Laundering frameworks.

Some South Korean cryptocurrency exchanges are as of now trying to open branches abroad. Prior this week,Coinone, the cryptocurrency exchange which is ranked three in South Korea, reported its intentions to launch a trade-in Indonesia in the coming June.

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Tags: Bithumb Bithumb Coin ico initial coin offering Bithumb ICO Bithumb Initial Coin Offering

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