South Korean internet company Kakao, a provider of a popular messaging app has announced the launch of a new South Korean crypto to crypto exchange called UPbit in partnership with Bittrex, the U.S. bitcoin, and blockchain asset exchange company.
The website for Upbit is currently just a signup form and notification stating that the exchange will be launched in October.
Upbit will use the technology of Bittrex, rebranding their platform for Korean users. The exchange will offer over 200 cryptocurrencies and blockchain assets.
Kakao is the number one messaging app in South Korea with over 95% of smartphones having the app installed. The exchange will provide easy access to cryptocurrency investing for Kakao users, with wallet security to be provided by BitGo.