Crypto Continue to Rise; Bithumn To Issue Own Token In Singapore

Investing.com – Cryptocurrencies continued to rebound on Friday, while reports that South Korean-based crypto exchange Bithumn is considering to issue its own digital coins in Singapore garnered some attention.

was trading at $8,286.5 by 1:00AM ET (05:0 0GMT) on the Bitfinex exchange, up 1.0% over the previous 24 hours.

, the world’s second largest cryptocurrency by market cap, gained 5.1% at $564.84 on the Bitfinex exchange.

’s XRP token surged 10.7% higher to $0.81957 on the Poloniex exchange.

Meanwhile, added 2.3% to $145.0.

Bithumn said it is considering to issue its own digital token, named Bithumb Coin, in an initial coin offering (ICO), local media revealed on Thursday.

The ICO would be conducted in Singapore as such fund raising route is banned in South Korea. Expected launch datae and the size of the venture were not disclosed in the reports.

The news followed reports that Chinese-based crypto exchange Huobi was issuing its own token, the Huobi Token, in January.

South Korea banned all ICO activities in the country in late September 2017 on the basis of “increased risk of financial scams.”

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