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Bithumb Global, the global platform of South Korea’s top cryptocurrency exchange Bithumb, has announced its plans to launch in India.
As per a press release, the firm said it will now onboard local customers with a sign-up incentive and will give Indian exchanges the chance to become a partner, offering them a sound liquidity base to grow.
“The benefits of becoming a Bithumb Global Partners will include Bithumb Global support which means the India retail traders will have high liquidity since Bithumb has high volumes of top tokens and order book sharing. Additionally, there will be project staging opportunities that would be promoted by all Bithumb Global Partners along with a vast number of more benefits,” the company stated.
Bithumb also introduced an incentive strategy, giving out $10 to all new users who sign up and complete the first step of Know Your Customer (email verification).
The announcement also noted that the recent move is a step closer for Bithumb Global to revolutionize the blockchain to over a billion people.
“The team seems extremely excited to take off on this decentralized journey in a country of such diversity,” the statement read.
Notably, Bithumb’s expansion into the Indian borders marks significant progress for holders of digital assets in the country and even the crypto community as it sends out mature market signals.
The news comes after India’s Supreme Court criticized the country’s central bank last month and ordered it to respond to complaints on the ban of banking services to crypto-related businesses. It can be recalled that the Reserve Bank of India prohibited banks from conducting any businesses with crypto operators last July 2018. Several exchanges have shut down following that.
