New Cryptocurrency Exchanges Open in Korea, Thailand, Vietnam, and the Philippines
The number of new cryptocurrency exchanges is rapidly growing worldwide. This new crypto exchange roundup features four platforms located in South Korea, Thailand, Vietnam and the Philippines.
South Korea’s Coinbit
South Korean game developer Axia Soft Co. Ltd. has recently launched a crypto exchange called Coinbit. For its grand opening, the exchange is offering zero commission trades until the end of May.
Coinbit says 50 cryptocurrencies will be listed initially and more than 100 coins will be listed by the end of the year. Among supported cryptocurrencies are bitcoin, ether, ripple, bitcoin cash, ethereum classic, litecoin, waves, stox, eos, vechain, omisego, qtum, and neo.
Cryptocurrency exchange Jibex has recently opened its doors in Thailand. The exchange is backed by IT company J.I.B. Computer Group Co. Ltd, a distributor and seller of computer hardware and IT trading products with 150 stores nationwide.
Initially, only five cryptocurrencies will be supported: bitcoin, bitcoin cash, ether, litecoin, and ripple. More will be added in the future, according to Jibex CEO Thuntee Sukchotrat. The exchange also offers a wallet supporting those five cryptocurrencies.
For the grand opening, Jibex is waiving its commission of 0.24%. No trading fee will be charged for 45 days ending on June 26.
Jibex Chairman Dr. Thantharaksuk Chotirat commented:
The partnership with J.I.B. Computer Group (JIB) will give users peace of mind and confidence in their investment. The service is good, fast and attentive to all customer needs.
Kenninex crypto exchange has recently launched in Vietnam, headquartered in Ho Chi Minh City.
The exchange claims to be “the first live cryptocurrency exchange in Vietnam…[and] the first e-money trading platform in Vietnam to have a trading office where investors can experience our services as well as receive effective investment advice,” according to its website.
Customers can currently convert bitcoin and ether into VND and vice versa. The transaction fee is usually 0.4% but has been reduced to 0.2% for the first month of launch, according to local media.
The Philippines’ Coinvil
While Coinbit, Jibex, and Kenninex have already launched, this next exchange has not. South Korean blockchain technology and services company Glosfer and Coinvil have agreed to collaborate to build and launch a cryptocurrency exchange in the Philippines. Coinvil will operate the exchange while Glosfer will build the platform. Coinvil CEO Park Rae-hyun commented:
The Philippines will become the largest cryptocurrency trading market that connects Europe and Asia.