Bithumb Touts Indian Alliances for its New Blockchain Protocol

By Brian Njuguna   Nov 08, 2019 1 Min Read - 2019-11-08T145325.448.jpg

Bithumb Global, one of the biggest cryptocurrency exchanges globally, has announced its intent of availing a new blockchain protocol in India. Dubbed 'Bithumb Chain,' the South Korea based exchange seeks to avail it to Indian startups, companies, and even the administration for developing products and services on the foundation of blockchain technology. 

Expressly, Bithumb Chain is a core infrastructure that connects many moving parts in a finance ecosystem. 

Vincent Poon, Bithumb Global’s vice president, ascertained that the company was open to any collaboration from India given that the nation has tremendous cryptocurrency and blockchain opportunities. He acknowledged that India has an impressive blockchain developer talent despite the country's contentious issue of cryptocurrency legalization. 

Conversely, the firm’s managing director, Javier Sim, noted: “We are open to talking to regulators, working with them to be a regulated exchange. We are a strong brand from Korea and do not involve ourselves in unregulated or illegal trade.”

Sim also stipulated that Bithumb seeks to collaborate with Indian cryptocurrency companies that offer users peer-to-peer (P2P) transaction models with more inclination to trading cryptocurrencies on their platforms. Expressly, the P2P models employ networks that stimulate customers and cryptocurrency vendors to take part in trading sessions in absentia of banking alleys. 


Image via Shutterstock



About the author

Brian Njuguna
He is an accomplished corporate writer and entrepreneur based in Nairobi, Kenya. He holds a Bachelors of Economics & Statistics, Second Class Upper Division, from Kenyatta University. Brian has a penchant for Blockchain and Cryptocurrency because he believes the present systems will be altered by these innovations as they reign supreme as we gear towards the fourth industrial revolution or 4IR.

Like this post:
Read More