aelf, the next-generation cloud computing blockchain network, today announced its token ELF has become one of the first Singaporean tokens to be tradeable on Bithumb, South Korea’s second largest cryptocurrency exchange. The listing aligns with aelf’s long-term strategy to better support South Korea’s booming cryptocurrency market and blockchain community.
“South Korea is a crypto trading powerhouse, backed by a rapidly-growing mainstream community of digital asset owners,” aelf co-founder Zhuling Chen said. “aelf’s new strategic alignment with Bithumb is highly significant for our community; not only is Bithumb the seventh largest cryptocurrency exchange by global trading volume, meaning users now have greater access to ELF and its ecosystem, it’s also at the forefront of bringing cryptocurrency to real world, commercial applications — one of aelf’s primary values.
“As aelf builds its blockchain-based ‘Central Business District’ that will enable businesses of all sizes to integrate blockchain into their operations, we look forward to working alongside such a prominent exchange renowned for bringing crypto to the masses in South Korea.”
The listing comes as Bithumb focuses its efforts on real-world applications of cryptocurrencies. In Q1, Bithumb partnered with Korea Pay, the country’s largest digital payments service provider, to facilitate the acceptance of cryptocurrencies by 8,000 merchants by the end of this year. The company has also partnered with WeMakePrice, South Korea’s leading ecommerce operator, and South Korean hotel booking platform Yeogi Eottae, to integrate cryptocurrency payments. By bringing cryptocurrency payments to these daily-transaction platforms, Bithumb is helping to create a more favorable perception of cryptocurrency in the country.
The ELF token listing on Bithumb is the latest move to support aelf’s strategic entrance into the South Korean market. The listing follows the recent announcements of aelf’s high-profile partnership with the country’s largest digital asset fund, Hashed, and another token listing on GOPAX, one of South Korea’s fastest and most reliable cryptocurrency exchanges.
“Bithumb’s continued efforts to bring their cutting-edge platform to the masses aligns perfectly with our vision not only for the future of blockchain in commercial applications, but for the industry as a whole,” Chen added. “We very much look forward to active and continued collaboration with the team at Bithumb and are incredibly eager to see what the future holds for such an important region.”