Upbit Rides Korea Crypto Boom to Top-Five Global Exchange Spot

The beating heart of the crypto bull market sweeping the world isn’t Miami, Paris or the Middle East. It’s South Korea, where speculation has reached such intensity that the won has supplanted the dollar as the most-used currency for swapping in and out of Bitcoin and other tokens.

At the center of this bonanza is Upbit, an exchange based in Seoul’s ritzy Gangnam district whose wide array of listed coins and ease of access have helped it claim the lion’s share of Korea’s crypto market.

Trading on Upbit accounts for over 80% of Korean volumes, a level of dominance ...