Upbit Introduces B3 Korean Won Pair as Base Token Expands into Korea

Upbit, the South Korean cryptocurrency exchange, has introduced B3 to its Korean won market, providing local traders with direct access to the Base-linked token.

Initially set for 13:45 KST on May 7, trading was rescheduled by Upbit to 14:00 KST.

B3 operates as a layer-3 blockchain built upon Base, an Ethereum layer-2 network designed with the OP Stack. The listing by Upbit permits the token access to one of the most vibrant retail crypto markets in Asia.

Exchange implements early trading limits

Upbit announced that B3 deposits and withdrawals will only be facilitated through the Base network. Users are advised to verify the contract address prior to transferring funds, as deposits made via unsupported networks could undergo prolonged refund processes.

Normal controls were enacted during early trading. Buy orders faced restrictions for approximately five minutes after the launch. Furthermore, Upbit limited low-price sell orders and non-limit order types for about two hours.

Upbit cautioned that, “If a certain level of liquidity is not established post commencement of deposit and withdrawal services, the initiation of trading support may be delayed.” This notice indicates the exchange’s flexibility in adjusting trading based on market depth.

B3 joins recent Upbit listing trend

The listing follows a series of Upbit market additions that drew attention to select tokens. As reported by crypto.news, Dogwifhat experienced a surge after Upbit introduced WIF trading pairs against KRW, BTC, and USDT on May 6. The report also highlighted the potential for new listings to expose traders to rapid price fluctuations.

Previously, crypto.news noted that Centrifuge soared over 180% following Upbit’s announcement of trading support, while another report indicated that Internet Computer gained about $100 million in market value after Upbit initiated ICP trading against KRW, BTC, and USDT.

These instances illustrate why new KRW pairs attract significant market interest, offering direct local currency access and potentially bringing sudden liquidity from South Korean retail traders.

OP Stack connection adds market relevance

The linkage of B3’s Base and OP Stack aligns with broader infrastructural trends at Upbit. This week, crypto.news reported that Upbit has partnered with Optimism to create GIWA Chain, an Ethereum layer-2 network utilizing the OP Stack.

According to that report, GIWA Chain will enable Upbit to manage its infrastructure within Optimism’s self-controlled enterprise framework. The exchange will oversee its own sequencer, which governs transaction ordering and collects network fees.

The B3 listing is distinct from GIWA Chain but is tied to blockchain activities based on OP Stack. For traders, this listing situates B3 within South Korea’s won market while providing enhanced visibility to Base-linked layer-3 projects.