Cryptocurrency Exchange BTCC Expanding Into South Korea

South Korea

BTCC, formerly known as BTC China, is launching services in South Korea on Oct. 31, according to the Investor. The beta service will start this month and the exchange “will make its official debut in November,” the publication added.

BTCC Launching Cryptocurrency Exchange in South Korea“The world’s first cryptocurrency exchange BTCC is preparing to open in Korea,” the company wrote on its Korean website’s homepage. Four services are listed: an exchange, a wallet service, a mining pool, and a service to facilitate consumer payments.

“BTCC is establishing an on / offline payment system using cryptocurrency,” its website states, adding that it “is expanding services for real-life use.”

The South Korean cryptocurrency market is dominated by four exchanges: Upbit, Bithumb, Coinone, and Korbit. Bithumb is the largest cryptocurrency exchange in the country by trading volume while Upbit is the largest by the number of coins listed. Upbit, which offers the trading of 164 coins in 276 markets, is a partner of U.S.-based exchange Bittrex and is backed by Kakao Corp., the operator of the country’s most popular chat app, Kakao Talk.