Bithumb, a somewhat notorious name in the Sout Korean crypto exchange industry, is looking into ways to expand its activities to India.
For Bithumb, the first step towards this expansion will be to talk to regulatory bodies in India, in order to prepare all necessary documentation.
According to Bithumb’s founder, Javier Sim customers must know that Bithumb is a:
strong brand from Korea.
After this stage is completed, the South Korean exchange will start looking for institutional partners in order to set up an Indian crypto exchange.
Indian crypto exchange
With this expansion towards the Indian market, Bithumb is not only looking to boost its revenue, but also develop the crypto industry in the country.
Unfortunately, India is a tough market for any cryptocurrency-related project. The tough regulatory landscape in the country is proving to be a severe hurdle before entrepreneurs and businessmen in the cryptocurrency sector.
In order to make the transition to the Indian market easier, Mr. Sim is looking into ways to partner with already established names.
This is why Bithumb will be focusing on creating meaningful partnerships with successful local cryptocurrency operators, in order to make the new Indian crypto exchange functional as soon as possible.
Another important goal of the Indian Bithumb crypto exchange will be to clear the name of the company. After Bithumb lost nearly 180 million US dollars in 2017, the brand has suffered an outflow of users.
With this new project, Bithumb promises that all glitches and bugs found after the huge loses in 2017 will be eliminated to create a fully functional and secure crypto exchange.
Featured Image by Pixabay
