Bithumb and Upbit exchanges have become cryptocurrency unicorns

The two largest South Korean stock exchanges were included in the list of unicorn companies, thanks to which the country has risen to 4th place in the world in terms of the number of businesses with a valuation above $1 billion.

There are now 16 billion-dollar companies in South Korea. In first place in the TOP is the United States with 206 companies. In second place is China with 174 businesses.



Upbit and Bithumb have become unicorns in 2021 estimates. Moreover, the rating of the Upbit crypto exchange is very high. The company is in 2nd place in the ranking of billionaires in South Korea. Her valuation is $8.5 billion.

Users of the Upbit crypto exchange generate 70% of the crypto exchange market in South Korea. Given the high trading activity, the local FSS regulator plans to strengthen supervision over the cryptosphere.

This could negatively affect the country's plans to increase the number of unicorn companies to 20 in 2022, analysts said.

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