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Bithumb might issue their own token in Singapore

Santhosh M



Bithumb might issue their own token in Singapore
Source: Pixabay

One of the leading cryptocurrency exchanges around the globe and the second largest exchange in South Korea, Bithumb will be issuing their own token named BITHUMB Coin in Singapore according to a local news portal.

Based on the reports, the exchange platform will be conducting and releasing the ICO in Singapore and abroad. The token will be issued to top institutions and investors and not to individuals. Many industry experts even speculate that there will be two types of Bithumb coin. The platform will refrain from releasing the coin in South Korea where the company’s headquarters is located at as ICO’s are banned in the country.

{Translated from Korean} One of the spokespeople of Bithumb, Oh Young-Jun says:

“We know that the Bithumb coin is underway at a local subsidiary acquired by Bithumb’s subsidiary. Details regarding the specific schedule and issue size have not been confirmed.”

Charles Ray, a day trader says:

“I honestly think Bithumb is one of the best exchanges. They respond to all the queries and problems immediately and have all the important coins listed on their platform. Moreover, they have started expanding their operations in all the important locations. Releasing their own coin is one big step and I know for sure that the coin will receive a positive response.”

Brain Kelly, a cryptocurrency investor and trader says:

“I knew it! All the exchange platforms will eventually start their own ICO.”

Katherine Dsouza, a crypto-enthusiast says:

“Wow! I wonder how many more are there to come. All the exchanges these days are upto releasing their own tokens instead of listing the coins their customers want.”

Justin Jefferson, a BTC trader says:

“Very soon we’ll be seeing all the coins with their own exchange platforms.”

Jason Herly, a Bithumb user says:

“Does this mean that the charges will reduce?”

Huobi, one of the leading cryptocurrency exchanges of South Korea has recently announced the release of their own token Huobi Token [HT]. These aren’t the only cryptocurrency exchange platforms with their own token. Binance, the largest cryptocurrency exchange platform around the globe also released their own coin, Binance Coin [BNB] last year.

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Santhosh is a full-time reporter at AMBCrypto. He is an engineer with a major in Mathematics and Computer Science. He developed a key interest in the blockchain space and has been studying and researching about it ever since. He is currently authoring a book on Blockchain and its use cases in the Education domain. He currently does not hold any value in any cryptocurrency or its projects.