Targets South Korean Retail Traders with App Launch to enter the South Korean market with retail trading services following the exit of OK-BIT.

Guy in Seoul discovering a new app.
Created by Kornelija Poderskytė from DailyCoin
  • is about to enter the South Korean digital assets market.
  • The development comes after the company acquired a locally-licensed exchange.
  • might still face regulatory challenges ahead.

Digital asset exchange will launch its retail trading services in South Korea at the end of this month, the company said in a statement shared with DailyCoin on Tuesday.

The Singapore-based exchange plans to launch its trading app to replace OK-BIT, a locally licensed crypto exchange it acquired in 2022 along with payment service provider PnLink Co. said OK-BIT will cease its services as of April 29 to prepare for this new venture. Enters South Korea Post-OK-BIT Acquisition

According to the statement, the app is set for launch in South Korea on April 29 with an initial offering of “comprehensive crypto trading services” to retail customers.


Besides opening an account to access over 150 cryptocurrencies, South Korean retail traders can leverage the app to access exclusive NFT projects via NFT, educational and resource materials via University, and reward benefits. President and Chief Operating Officer Eric Anziani lauded the development, noting that the exchange would continue collaborating with South Korean regulators to help grow the domestic digital assets industry “responsibly.”

We are incredibly excited to be launching the App for retail users in South Korea - a market of tremendous importance to the growth of our business, and one in which consumers are very interested in crypto,” Anziani stated.

While this is a significant milestone for, the exchange might not be able to offer a “full trading experience” after launching its trading app in South Korea, thanks to the country’s stringent digital assets regulations.

Regulatory Bottlenecks

According to a local media report, plans to launch its trading app under OK-BIT’s VASP rights until the expiration of OK-BIT’s VASP validity period in September this year. Under this arrangement,’s app might only be able to offer limited services in crypto-to-crypto trading, given that OK-BIT had failed to secure a bank partnership to operate in the won market.


Furthermore,’s app will lock out institutional traders as South Korea-based institutions are banned from directly investing in crypto.

Read how’s SHIB strike options work: Launches SHIB Strike Options: Here’s How It Works

Stay updated on recent’s win in the UK: Wins Electronic Money Institution License in the UK

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.