Upbit to List Optimism (OP) With KRW, BTC & USDT Pairs

Upbit, South Korea’s largest cryptocurrency exchange, has officially announced the listing of Optimism (OP). The exchange will support trading pairs in Korean Won (KRW), Bitcoin (BTC), and Tether (USDT).

The trading will go live at 16:30 KST on July 28. Users can begin deposits and withdrawals through the Optimism network within two hours of the announcement. Upbit has urged users to verify network details before depositing to avoid delays or asset loss.

Optimism Brings Ethereum Scalability to the Fore

Optimism is a Layer 2 solution designed to resolve Ethereum’s long-standing scalability issues. It uses Optimistic Rollups to compress transaction data on Layer 2 and store it on Ethereum’s mainnet. This results in faster transaction speeds and lower gas fees.

The OP token serves as the project’s governance token. It plays a key role in decision-making and community proposals. Optimism also supports a broader developer ecosystem through its OP Stack and Superchain initiatives.

Temporary Trading Restrictions Applied

Upbit will apply a short set of trading restrictions during the launch phase. The platform will restrict buying for five minutes after trading begins. Likewise, it will block sell orders priced more than 10% below the previous closing price during this window.

Upbit will allow only limit orders for two hours after the launch to stabilize market activity and prevent price manipulation. The prior day’s closing price was 1,005.8 KRW, with the latest recorded at 1,026.84 KRW. USDT and BTC values have also shown slight increases, reflecting growing market interest.

Risk Notice for Traders

Upbit has issued a reminder that digital asset investments involve high volatility and speculative risk. It recommends investors verify all project information and consult official resources before engaging in trading.

Additional compliance guidelines have been highlighted. These include wallet ownership verification and rules tied to Korea’s Travel Rule implementation. Deposits from unsupported exchanges may result in delays or refunds.