Upbit has been named the only transparent exchange among Asian exchanges.
The company is a cryptocurrency exchange operating below Dunamu with a global standard. It announced that it’s name is in the list on the “most transparent exchange” in a September market monitoring report. Blockchain Transparency Institute (BTI), reported the news last week.
The announcement is based on about six months of data from April to September through “BTI Verified”. It s a real transaction volume analysis program offered by BTI.
Upbit is on the list as a highly reliable exchange along with other international exchanges. Including the U.S. flagship exchanges KRAKEN, Poloniex and Coinbase. Surprisingly, it was the only exchange from an Asian country in the list, according to BTI.
On the list of BTI verified exchanges are Binance, Liquid, BITTREX, GEMINI, gate.io, BITSO, Lykke, bitFlyer and INDORAX.
Upbit: Not the first time receiving the ‘transparent’ label
Upbit was also named as a transparent exchange without wash trading in a report released in April. And the announcement will once again ensure transparency certified by global institutions.
“We feel a greater sense of mission as a representative exchange for Korea as I have received favorable reviews from BTI, which is well-known for its high reliability and accurate analysis,” said an official from Upbit. “Since we have grown to trust from customers, we will do our best to establish a clean trading environment in the future.
Meanwhile, Upbit parent company, Dunamu has just announced the launch of Upbit Safe through a partnership with Ledger. The company claimed that it would provide a safer custody service for cryptocurrency trader. It offers security solutions such as enterprise multi-account schemes, distributed cold walllets, withdrawal limits, and white lists to support safe asset retention.
On the other hand, Upbit Indonesia has just added another currency on its listing. Kakao Corp.’s KLAY has made its first listing there.