Major VC-Backed South Korean Exchange Launches Ripple Support

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Korbit, one of the three leading South Korean bitcoin exchanges alongside Bithumb and Coinone, has officially integrated support for Ripple trading.

In an email to its customers and traders, the Korbit team wrote:

“Korbit is pleased to announce fuller support for trading Ripple (XRP). Ripple is one of the leading cryptocurrencies and recently experienced a surge in price. You can now buy and sell Ripple on Korbit by placing limit or market orders.”

Over the past three years, Korbit secured $3.6 million in investment from South Korea’s most prominent investment firms and conglomerates including the $17 billion telecommunications giant SK Telecom, the South Korean arm of the Japanese investment company Softbank, and billionaire angel investor Tim Draper.

Although Korbit currently falls behind Coinhumb in terms of user base and market capitalization, it has a significant influence over the South Korean bitcoin industry and exchange market due to its strong line up of investors and supporters. Thus, the validation of Ripple by the Korbit team is likely to trigger a rise in demand toward Ripple in the South Korean exchange market, which already is the second and third largest market in the global Ethereum and Bitcoin exchange markets.

On May 11, Koji


Read more ... source: BTCManager

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