Upbit, South Korea’s largest digital asset exchange, has announced the launch of Filecoin (FIL) trading pairs denominated in the South Korean Won (KRW).
The trading is set to commence at 4:30 PM local time on April 4, marking a new milestone in the integration of FIL into the South Korean market.This move is expected to boost the visibility and accessibility of Filecoin, a decentralized storage network, among South Korean investors.
According to sources, the introduction of FIL/KRW trading pairs will provide users with a more convenient and localized option to buy and sell FIL, potentially increasing market activity and liquidity. South Korean investors have historically shown a strong interest in cryptocurrencies, with previous examples like XRP experiencing significant price surges following increased market participation from the region.
The decision by Upbit to list FIL reflects the growing interest in decentralized storage solutions and the broader adoption of cryptocurrencies in South Korea. Filecoin’s decentralized storage model allows users to rent out unused storage space, providing a unique value proposition that aligns with the country’s tech-savvy consumer base. As of now, FIL is priced at approximately ₩4,075.85 per coin, with a significant trading volume indicating strong market interest.
Upbit’s introduction of FIL/KRW trading pairs will simplify South Korean investors’ access to Filecoin, eliminating the need for currency conversion. This increased accessibility may attract more investors, potentially driving demand and influencing Filecoin’s price. Additionally, South Korea’s robust technology sector aligns with Filecoin’s decentralized storage solutions, potentially fostering increased adoption and integration within the local tech ecosystem.
The launch of FIL/KRW trading pairs on Upbit marks a significant step forward for both Filecoin and the South Korean cryptocurrency market. As the market continues to evolve, this development is poised to enhance the accessibility and appeal of decentralized storage solutions in the region.
Upbit, faced regulatory action in 2025. In February, the Financial Intelligence Unit (FIU) imposed a three-month suspension on deposits and withdrawals for new Upbit clients due to transactions with unregistered virtual asset service providers (VASPs). Upbit’s parent company, Dunamu, responded by filing a lawsuit against the FIU and seeking an injunction to overturn the ban. In October, the Financial Services Commission (FSC) launched an investigation into Upbit for potential anti-monopoly violations, adding to the exchange’s regulatory challenges.
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