TechFlow, May 14 — Upbit announced it has opened free deposit and withdrawal services for Backpack Exchange accounts. Upbit users can now freely deposit and withdraw digital assets between Upbit and Backpack.
Due to South Korean regulations, domestic exchange users cannot directly withdraw funds to exchanges outside South Korea; they must first withdraw tokens to a Web3 wallet before depositing them into another exchange. As Upbit's exclusive partner for this service, Backpack will seamlessly absorb users and capital from South Korea's leading exchange, connecting Upbit's liquidity.
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