Upbit Adds PROM Trading Pairs for KRW and USDT

South Korean cryptocurrency exchange Upbit has announced the listing of PROM, the native token of the Prom blockchain platform, for trading against the Korean Won (KRW) and Tether (USDT). Trading is scheduled to commence at 3:30 a.m. UTC today, according to an official notice from the exchange.

Listing Details and Trading Availability

Upbit users will be able to trade PROM in both the KRW and USDT markets, offering flexibility for domestic and international traders. The exchange has set a base price for the token, which will be disclosed shortly before trading begins. As is standard for new listings on Upbit, there may be temporary restrictions on certain order types during the initial trading phase to ensure market stability.

PROM is the utility token of the Prom blockchain, a platform focused on real-world asset tokenization and Web3 infrastructure. The listing on Upbit marks a significant step for the token’s visibility in the Asian market, given Upbit’s position as one of the largest exchanges in South Korea by trading volume.

Market Context and Implications

Listings on major Korean exchanges often lead to increased liquidity and price volatility. South Korea has a robust retail crypto trading culture, and new pairings on Upbit frequently attract substantial trading activity. However, investors should note that the exchange has warned that price movements for newly listed tokens can be unpredictable, and it advises users to exercise caution.

The addition of PROM follows a trend of exchanges expanding their offerings of tokens associated with real-world asset projects, as the sector continues to gain traction. For existing PROM holders, the listing provides a new fiat on-ramp and a stablecoin trading option, potentially broadening the token’s investor base.

Why This Matters to Traders

For South Korean traders, the KRW pair offers direct access without the need to convert through a stablecoin, reducing transaction friction. The USDT pair, meanwhile, allows international users to trade against a widely used stablecoin. This dual listing could enhance PROM’s market depth and price discovery.

Conclusion

Upbit’s listing of PROM on KRW and USDT pairs is a notable development for the token and its community. While it provides new trading opportunities, market participants should remain aware of the inherent risks of trading newly listed assets. The listing is expected to go live at the announced time, with trading activity likely to be closely monitored by both the exchange and users.

FAQs

Q1: What is PROM?
PROM is the native token of the Prom blockchain, a platform dedicated to real-world asset tokenization and Web3 infrastructure.

Q2: When will trading start?
Trading is scheduled to begin at 3:30 a.m. UTC today, as announced by Upbit.

Q3: What are the available trading pairs?
PROM will be available for trading against the Korean Won (KRW) and Tether (USDT).