South Korean cryptocurrency exchange Bithumb is reportedly planning to issue its own cryptocurrency dubbed “Bithumb Coin.”
According to a TokenPost report, the initial coin offering is expected to be conducted in Singapore as ICOs are banned in South Korea.
Bithumb will be targeting large-scale investors rather than individuals for its token sale.
No details are available about the schedule or the size of the coin offering.
Earlier this year, Chinese cryptocurrency exchange Huobi announced its plans to issue its own token – Huobi Token (HT) – based on the ERC-20 standard.
Other crypto exchanges, such as Binance and Kucoin, have also issued their own tokens.
By Jade Olafson