South Korea’s Bithub wants to offer a token sale targeted at institutional investors and large-scale investment firms in Singapore
Bithub, has decided to launch its own virtual currency called Bithub Coin reports TokenPost. In late September 2017, South Korea’s Financial Services Commission (FSC) announced a ban on ICOs and this is why the exchange has decided to host the token sale in Singapore.
The South Korean exchange is one of the most important in the world by trading volume, managing $1.13 billion dollars in the last 24 hours.
Bithub has revealed that the coin will be released in two parts or types but the company has not disclosed any details about the structure or the purpose of its token. More importantly, according to News1, Bithub is not seeking to conduct a public ICO but rather a token sale targeted at institutional investors and large-scale investment firms.
Bithub Coin will be a similar cryptocurrency to other crypto exchanges, Binance Coin and Huobi Token, in this way, the exchange will bring additional liquidity to the trading platform.