Upbit Expands Korean Market Access with Morpho and Euler Listings

Upbit has expanded its market access to Korean users by listing two Ethereum-based decentralized lending projects, Morpho and Euler. The listings provide local users with direct access to KRW (Korean won) trading pairs for both tokens.

The exchange initially scheduled the launch of EUL/KRW trading for July 26 at 12:00 noon KST but later postponed it to 2:00 KST, creating a two-hour delay. Upbit cited potential liquidity issues as the reason for the change.

Deposits and withdrawals for both tokens were limited to the Ethereum blockchain, with users required to verify the network and contract address before making any deposit. Temporary order restrictions were also put in place, including limiting buying orders for 5 minutes after market opening.

The listings have been met with a strong response from traders, with EUL showing a significant price increase of about 63% in the past 24 hours. CoinMarketCap data attributes this surge to the Upbit listing, which occurred prior to the KRW market opening.