Bithumb, one of South Korea’s popular cryptocurrency exchanges, has listed its Stargate Finance (STG) altcoin against the Korean won, according to a statement.
Such activities on South Korean exchanges are being monitored as they can cause an increase in the volatility of the altcoins in question. Recently, BCH and LTC tokens faced a wave of volatility from South Korean exchanges.
STG trading on Bithumb will start at 07.00 UTC.
Stargate Finance supports ERC-20 tokens based on the Ethereum network and plans to expand to other chains in the future. By depositing STG tokens into a voting escrow account, users can earn veSTG, which is equivalent to voting rights in protocol management decisions.
veSTG holders can also enjoy staking rewards and fee distribution.
According to its website, Stargate Finance aims to be the “ultimate cross-chain liquidity hub” by enabling the smooth and secure transfer of all local assets on any blockchain.
Bithumb is considered one of the largest and oldest cryptocurrency exchanges in South Korea, with over 8 million registered users and over $1 billion in daily trading volume.