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Upbit's $1.5T of Volume Pushes Beyond Korea's Borders
Upbit's 13 million users and $1.5T in volume fuel an international expansion push, as the Korean exchange eyes new markets beyond its dominant home turf.
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Upbit, the dominant South Korean crypto exchange with 13 million KYC'd users and $1.5 trillion in cumulative trading volume, is shifting focus to international expansion. Chief Brand & Impact Officer SeonJoo Yoon told CoinDesk that the exchange sees opportunities beyond its home market, which has long been one of the most active crypto trading environments globally.
Korea's market has a distinct character. Retail participation is high, trading volumes frequently spike during local sessions, and the so-called "kimchi premium" – the gap between Korean and international prices – has periodically drawn arbitrage activity. Upbit's position at the center of that flow has made it a major force: the exchange's $1.5 trillion in cumulative volume places it among the world's largest by turnover.
The push abroad comes as regulatory conditions in Korea remain strict. The country requires real-name bank accounts for crypto trading, and exchanges face tight compliance obligations under the Specific Financial Information Act. Upbit, which has navigated that framework successfully at home, is now applying that operational experience to new jurisdictions.