Upbit Delays Launch of Four New Crypto Assets Amid Trading Restrictions
South Korean cryptocurrency exchange Upbit has announced that it will be adding BTC and USDT trading pairs for four new digital assets on August 21. The assets in question are BICO, BMT, NIL, and GWEI.
The trading pairs were initially scheduled to go live at 1 PM KST but have since been delayed twice with the latest update pushing the launch time back to 7 PM KST.
Upbit has warned users that deposits and withdrawals for these assets will only be processed through the supported blockchain networks. For example, BICO, NIL, and GWEI will use the Ethereum network, while BMT transfers will operate through Solana.
After the markets open, Upbit will apply temporary trading restrictions, including a five-minute restriction on buy orders and a two-hour period during which only limit orders will be available.