Korean Exchange Upbit confirms dissolution of its Partnership with Bittrex

Home » Korean Exchange Upbit confirms dissolution of its Partnership with Bittrex

As a result of the reorganization of its Bitcoin (BTC), Tether (USDT) and Ether (ETH) markets, Upbit, a South Korean cryptocurrency exchange, has decided to cut its ties with Bittrex according to Decenter — local South Korean news outlet — Sept. 25 report.

The two cryptocurrency exchanges had previously been sharing an order book agreement in which case orders were seen visible in the Upbit bid windows.

Anticipated markets reorganization

Upbit’s intention announcement to introduce changes into its BTC, USDT and ETH markets was communicated to customers through a notice.

These changes — which were scantly detailed — covered market orders introduction, stop-limit features and limit orders.

In an earlier instance, Bittrex being discontinued from the order book sharing was particularly mentioned in the notice, but later specific reference to Bittrex was removed.

Specific details contained in the, “Discontinued order book sharing with Bittrex,” include:

“As a result [of the changes], you will no longer be able to see orders placed at Bittrex in the Upbit BTC, ETH and USDT markets.”
However, the updated notice reads as follows, “After changes are applied, only orders place by Upbit users are displayed on BTC, ETH and USDT markets.”

Due to money-laundering concerns, Upbit chose to delist privacy coins. As a result, the latest Blockchain Transparency Institute report recently categorized it as amongst the leading exchanges.

Following the cancellation of its collaboration with Bittrex, the crypto community has suggested that the Korean exchange would be listing Klaytn as its addition, but it wasn’t mentioned in its latest statement. Kakao — a South Korean messaging service — through Ground X its blockchain arm developed the crypto project.

Source: https://cointelegraph.com/news/south-korean-exchange-upbit-ends-orderbook-partnership-with-bittrex

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