by Patrick Thompson
South Korea has also passed China in the total volume of trading in KFH, and is launching a new crypto-banking exchange that will allow investors to trade 111 different Altswanes.
The descendants of the mobile app
Obit is an exchange Altswan created by DONAMO that will allow investors to trade different Altwans. DONAMO is the developer of a mobile application that provides soft copies of newspapers in South Korea and is owned by KakaStock, a leading mobile trading app in South Korea.
Kakustok is the offspring of the parent company Kakautalk, the top South Korean mobile phone mobile messenger application (similar to Wichat in China) with nearly 49.5 million (monthly) active users worldwide.
From 5 to more than 100
OpT will be the first South Korean Altswan to provide investors with an opportunity to invest in the Altswans on this scale. Current exchanges in South Korea usually offer about five different Altswans to invest in.
From now on, Cryptocomunity anticipates a large portion of Korean investors to use Opbite as a launch, due to the new investment opportunities that will provide them with Opiate. Many Korean investors are expected to stop trading on the platform they currently use to trade on OpT.
Obit cooperates with the exchange of Cryptocernes in the US Petrox for this business endeavor. The Petrex exchange offers investors the opportunity to invest in 190 different cryptocernes.
Although OpT will have 79 less currencies available for trade compared to Petrex, the launch of the UBIT will mean the first Korean exchange where Korean investors will have the option to invest in a large variety of currencies from within their own country.
It will be interesting to see the impact of this new exchange will be on the cryptocernes economy in Korea and around the world - but in both cases, the opening of a new exchange embodies the strength of the encryption industry.