PayBito to Extend White-Label Crypto Exchange Platform to South Korean Fintech Company
Expanding its relevance in the global crypto community, US-based crypto trade Platform PayBito will offer its acclaimed white-label crypto exchange platform to a major fintech company in South Korea.
PayBito has since collaborated with financial companies from all countries with a universal strategy. In its latest collaboration, PayBito is about to offer its crypto exchange solutions to a major fintech company in South Korea market.
South Korea’s PayBito target
According to PayBito Chief and block chain pioneer Raj Chowdhury, South Korea is a leading player in the global crypto community, and the collaboration will be a step forward in expanding service offerings.
“South Korea is emerging as a major player in the global crypto economy. The collaboration is a step forward to broaden horizons and contribute to the further development of digital assets,” Chowdhury said.
PayBito is a cryptocurrency asset trading platform operating globally. It mainly offers crypto-based services which include white label cryptocurrency exchange, white label payment gateway, subsidiary exchange and coin listing.
The platform’s latest expansion into South Korea aims to boost its global recognition while fostering the growth of the South Korean crypto community. Raj Chowdury noted in a statement, “The collaboration will drive positive change in the South Korean crypto community, fueled by trust and transparency.”
South Korea’s Growth in the Global Crypto Community
Notably, South Korea is one of the countries in the world with an apparent increase in adoption of cryptography. The country has strong competition within crypto exchanges (more than 20) for an increase in market share.
Although the country has not yet legalized cryptocurrencies as financial products, more than 10% of its citizens already use cryptocurrencies and more than 150 online businesses accept them as payment.
Overall, the country seems to have more people enthusiastic about trading and owning cryptocurrencies. In May, the South Korean government announced that it would invest in Metaverse projects from $177.1 million.
While the country’s prosperity in the global crypto community reflects success so far, another point worth noting is that even the The president seems to be a fan of cryptocurrencyinsisting on looser taxation rules for crypto.
In July, the South Korean government announced its decision to postpone the idea of taxing virtual assets until January 2025 (nearly 18 months) – a decision that would be a relief for crypto enthusiasts, as the government monitors the current market situation.
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