Korbit, one of the three leading South Korean bitcoin exchanges alongside Bithumb and Coinone, has officially integrated support for Ripple trading.
In an email to its customers and traders, the Korbit team wrote:
“KORBIT IS PLEASED TO ANNOUNCE FULLER SUPPORT FOR TRADING RIPPLE (XRP). RIPPLE IS ONE OF THE LEADING CRYPTOCURRENCIES AND RECENTLY EXPERIENCED A SURGE IN PRICE. YOU CAN NOW BUY AND SELL RIPPLE ON KORBIT BY PLACING LIMIT OR MARKET ORDERS.”
Over the past three years, Korbit secured $3.6 million in investment from South Korea’s most prominent investment firms and conglomerates including the $17 billion telecommunications giant SK Telecom, the South Korean arm of the Japanese investment company Softbank, and billionaire angel investor Tim Draper.
On May 11, Koji Higashi, the project leader of ORB and co-founder of IndieSquare, released an analytical blog post entitled “New wave of Japanese investors are fueling the great altcoin bubble.” In it, Higashi explicitly described the explosive growth of Ripple in the Japanese exchange market and his concerns over the decision of casual and beginner traders to invest in altcoins such as Ripple and NEM without obtaining actual knowledge in the purpose, structure and philosophy of the abovementioned altcoins.
Higashi emphasized that the vast majority of traders are relying on exchanges’ chatrooms to receive investment advice, …