South Korea, Thailand, Vietnam and Philippines to Launch New Crypto Exchanges

South Korea, Thailand, Vietnam and the Philippines will see launching of more cryptocurrency exchanges which is an indication that cryptocurrency markets continue to expand. The four exchanges are offering discounts on transaction fees in the first month of trading.  

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Four new cryptocurrencies have launched in South Korea, Thailand, Vietnam and the Philippines even as the number of cryptocurrencies continued to soar worldwide. Coinbit launched in South Korea courtesy of game developer Axia Soft Co. Ltd. The Vietnam’s city of Ho Chi Minh saw the launch of Kenniex crypto exchange. A cryptocurrency by the name Jibex launched in Thailand, backed by IT company J.I.B. Computer Group Co. Ltd.

On its part, Coinvil is set to launch in the Philippines.

Most of these exchanges are offering waivers on fees at launch for the first month of trading in order to attract more customers.

Coinbit exchange will offer zero commission trades until the end of May. It will add 50 cryptocurrencies initially, a number that will increase to more than 100 coins by the end of the year. These cryptocurrencies include among others  Bitcoin, Ether, Ripple, Bitcoin cash, Ethereum classic, Litecoin, waves, Stox, ESO, Vechain, Omisego, qtum, and NEO.

Jibex, on its part, will support five cryptocurrencies, namely Bitcoin, Bitcoin cash, Ether, Litecoin, and Ripple. They also offer a wallet that support these coins. Jibex CEO Thuntee Sukchotrat said they will add more later on.  J.I.B is a distributor and seller of computer hardware and IT trading products with 150 stores nationwide.

Dr. Thantharaksuk Chotirat, Jibex Chairman said,

“The partnership with J.I.B. Computer Group (JIB) will give users peace of mind and confidence in their investment. The service is good, fast and attentive to all customer needs”.

The company will waive the commission of 0.24 percent at launch, charge no trading fee until June 26.

Kenniex crypto exchange will not only let customers convert bitcoin and ether into VND and vice versa and to trade cryptocurrencies, but will also be the first e-money trading platform in Vietnam, with a trading office where customers can also get investment advice.

Customers will enjoy halved transaction fee of 0.2 percent for the first month of launching.

Glosfer and Coinvil blockchain companies in South Korea, which is a dominant market in the world of cryptocurrencies, will be collaborating to build and launch a cryptocurrency exchange in the Philippines. Glosfer will build it while Coinvil will operate it.

Coinvil CEO Park Rae-hyun remarked:

“The Philippines will become the largest cryptocurrency trading market that connects Europe and Asia”.

Coinvil CEO Park Rae-hyun said the crypto exchange will become the largest crypto trading market that connects Europe and Asia.

What do you think of launching of more cryptocurrency exchanges? Lets discuss on Twitter and Telegram.

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David Kariuki is a journalist who has a wide range of experience reporting about modern technology solutions including cryptocurrencies. A graduate of Kenya's Moi University, he also writes for Hypergrid Business, Cryptomorrow, and Cleanleap, and has previously worked for Resources Quarterly and Construction Review magazines.

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