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Bithumb, South Korea’s second-largest cryptocurrency exchange, has announced it will list the Centrifuge ($CFG) token and support the Korean won (KRW) trading pair.
Under the new listing, Centrifuge ($CFG) can be bought and sold directly against the South Korean won. This step is seen as a development that will both facilitate access to $CFG for local investors and increase the token’s liquidity in the Asian market.
Centrifuge is known as a decentralized finance (DeFi) protocol that aims to tokenize real-world assets (RWA) on the blockchain. The platform specifically aims to bridge the gap between traditional finance and blockchain-based financial applications. The $CFG token is used in network governance and incentive mechanisms.
Bithumb’s support for the KRW trading pair represents a significant advantage in the South Korean market. In the country, pairs that can be traded in the local currency offer investors lower costs and faster transaction speeds. Therefore, KRW-based listings can often lead to short-term price volatility in the associated token.
Experts say Centrifuge could attract attention in the South Korean market, particularly due to the growing global interest in tokenization of real-world assets. How trading volume and investor interest will develop after the listing will be closely monitored.
*This is not investment advice.