South Korea's Upbit Triples Down on CAP With KRW, $BTC, and $USDT Pairs 🚀

Upbit, South Korea's largest cryptocurrency exchange by domestic trading volume, listed Cap (CAP) across its KRW, BTC, and USDT markets on Monday, with deposits and withdrawals opening two hours ahead of trading at 14:00 Korea Standard Time. The exchange confirmed that CAP deposits and withdrawals are supported exclusively through the Ethereum network, directing users to the official Ethereum contract address and warning that transfers made through unsupported networks would not be credited.

The listing expands the token's availability by adding Bitcoin and Tether trading pairs alongside the Korean won market. Upbit also introduced temporary trading controls for the new market, restricting buy orders for approximately five minutes after trading opened and blocking sell orders placed below 10% of the previous day's closing price.

CAP functions within an on-chain lending and yield ecosystem, supporting covered credit stablecoins while serving governance functions across the protocol. The token's addition to Upbit's KRW, BTC, and USDT books materially widens retail access to the asset in one of Asia's most active crypto markets.

In a parallel South Korean listing, rival exchange Bithumb announced support for Unibase (UB) on its KRW market, broadening domestic trading options. The two simultaneous rollouts underscore continued platform-side competition for new token exposure among the country's major venues.