Korean Crypto Giant Bithumb is Launching a Decentralized Exchange

Bithumb, a major digital asset trading platform in South Korea, has announced its plans to operate a DEX in the months to come.

Perhaps inspired by the world’s largest cryptocurrency exchange Binance to launch a decentralized exchange (DEX) by 2019, Bithumb, a major digital asset trading platform in South Korea, has announced its plans to operate a DEX in the months to come.

Bithumb DEX, which is expected to target the global cryptocurrency market, will be launched under an overseas subsidiary of the exchange outside of South Korea. The DEX is currently being developed with the assistance of One Root Network (RNT), which already has deployed a decentralized exchange in early 2018.

A source close to Bithumb DEX told local publications that to expand its user base internationally, the exchange established a mid-term plan to fully deploy a decentralized exchange in the upcoming months.

“Bithumb is one of the leading global exchanges in terms of transactions but it is true that most of its users are Korean. The latest decision seems to be the company’s strategy to compete with other leading exchanges in the global market by opening a decentralized exchange that receives attention in the global market,” said the source.

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