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Bithumb Global to launch their own crypto coin

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Bithumb Global- the global arm of the South Korean-based giant cryptocurrency exchange, on the 12th of November announced its own digital currency.

The cryptocurrency- Bithumb Coin, can actually be described as a stock token and can be used for various transactions in the stock market. The token, which will be launched on the Bithumb Chain-based market, will be expected to come into the market in the first quarter of 2020.

Stating that Bithumb Chain is a decentralized open-source protocol, Borsa stock exchange officials said that Bithumb Coin can be used to promote transactions in the network.

A total of 300 million pieces of the token will be produced and 150 million pieces will be purchased and burned with half of Bithumb’s revenue, and this will result in a balance between supply and demand.

This model was actually used by the Binance cryptocurrency exchange for the Binance Coin.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.