List of ‘OTC’ companies

Biography:

Bithumb is a South Korean cryptocurrency exchange platform that is operated by a company called BTC Korea.com Co. Ltd, and is headquartered in Seoul, South Korea. It features low commission for bitcoin transactions, trade data anti-forgery, secured SMS verification, highly adaptive data encryption, 24/7 server security control systems, and stable real-time trading system. The Bithumb platform allows its users to exchange Korean Won for Ethereum (ETH/KRW), Ethereum Classic (ETC/KRW), Ripple (XRP/KRW), Litecoin (LTC/KRW), Dash (DASH/KRW), Bitcoin (BTC/KRW), and Bitcoin gift vouchers with a minimum value of $9 USD.

On September 23, 2019, Bithumb announced plans to open op their cryptocurrency trading platform in India. Bithumb will offer sign-up incentives to Indian customers and will offer an opportunity for Indian cryptocurrency exchanges to partner with Bithumb to help increase their liquidity. At the time of making their announcement to expand operations in India, Bithumb has captured 59.19% of the Korean and 15% of the global cryptocurrency exchange market.

In the first Quarter or 2020 Bithumb is planning to launch its first native token for Bithumb Chain, which will work as a medium of exchange for the ecosystem. From a mechanics side, the exchange will mint a hard cap of 300 million Bithumb Coins. Half of the exchange’s revenue will be used to burn 50 percent of BT’s token supply over time – similar to Binance Chain’s Binance Coin (BNB) – resulting in a final 150 million token supply. Initial token distribution will be split between on-exchange incentives and chain development, moreover.

Bithumb offers a wide range of products and services. Among them are Centralized Exchanges (Bithumb Global, Bithumb Singapore), Decentralized Exchanges (Bithumb DEX), OTC (Ortus), Security Token Offering Platform, Research Content (Xangle), Remittance (BithumbCash) and Consulting Services (Bithumb Block Deal).

On March 22nd, 2021, Bithumb was acquired by Nexon at a valuation of $1.7B.

In April 2019, the company raised $ 200M in a Series A round from ST Blockchain Fund.