It is always good to see new cryptocurrency platforms launch their services. Coinplug has launched a new trading platform, which has some interesting features. Coinplug is best known for their Bitcoin brokerage and other related services. South Korea is slowly warming up to the concept of cryptocurrencies, that much is evident. Consumers will certainly enjoy some more competition in this regard.
South Korea is home to some of the world’s biggest exchanges by trading volume, Bithumb is one name that comes to mind, as is Coinone. Now that Coinplug is entering the mix as well, things will get slightly more interesting. Their recently launched trading platform will be of great interest to local cryptocurrency enthusiasts. Users can trade Bitcoin, Ethereum, Litecoin, and Bitcoin Cash on the platform as we speak. Some interesting coin choices there, to say the least.
Coinplug Launches a New Trading Platform
This platform is known as Coinplug Digital Asset Exchange, or CPDAX in short. Bringing a bit more competition to cryptocurrency exchanges in South Korea is never a bad idea. Coinplug also has a solid reputation in the world of Bitcoin already. They have been around since 2013 and focus on providing a few different cryptocurrency-related services to the masses. Their businesses include a wallet service, gift cards, a two-way ATM and a payment processing service. Adding a trading platform to this list simple makes a lot of sense.
Coinplug has some major financial backing to date. Their investors include Tim Draper, SBI Asset Management, and a few others. Moreover, they have a major banking partner on board with KB Kookmin. It is evident this company is in the best position to shake up the Bitcoin industry across South Korea. It will be interesting to see how this new trading platform will pan out in the coming months. There does not appear to be support for trading any of the currencies against the Korean Won, though. Then again, that feature may be added at a later date.
The choice to support Bitcoin Cash trading is pretty interesting as well. None of Coinplug’s platforms support BCH at this point. For some reason, this particular platform will allow the trading of these digital assets. Granted, the company has always intended to support Bitcoin Cash at some point. However, there was no indication holders of BCH would be able to trade this asset anytime soon. That situation has come to change with the launch of CPDAX. An interesting decision, to say the least.
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