Korbit, the first crypto exchange to add support for the meme coin in South Korea, a country known for strict crypto regulations, has announced that it will list Shiba Inu (SHIB). For details of the news Cryptocoin. com continue reading.
Shiba Inu is listed on South Korea’s famous stock exchange
Seoul-based cryptocurrency trading platform Korbit will allow its customers to trade meme coin project Shiba Inu (SHIB) against the Korean Won from Thursday. Meanwhile, alongside Shiba Inu (SHIB), the exchange will also add Injective Protocol (INJ), the native token of the Layer-2 decentralized finance (DeFi) protocol of the same name.
Korbit is one of the very few crypto exchanges that has managed to circumvent the brutal regulatory pressure that forced smaller players to en masse shut down crypto exchanges earlier this year. Forty exchanges that failed to register with the FIU had to close in September. Unable to secure banking partnerships and provide real-name accounts to their customers, trading companies had to disable Won trades. This means they can only trade crypto-to-crypto.
Bithumb, Coinone, Upbit and Korbit are exchanges that are allowed to offer Won trades after complying with required regulatory requirements. In June, multiple exchanges took action to delist high-risk altcoin projects. Besides being the first exchange to bring Shiba Inu (SHIB) to the South Korean crypto market, Korbit also opened the first Non Fungible Token (NFT) market in the country in June.
