Upbit Launches B3 Korean Won Pair as Base Token Expands into the Korean Market

Upbit, the leading cryptocurrency exchange in South Korea, has launched B3 on its Korean won market, enabling local traders to access the Base-linked token directly.

Originally scheduled for 13:45 KST on May 7, Upbit postponed the start of trading to 14:00 KST.

B3 functions as a layer-3 blockchain built on Base, an Ethereum layer-2 network developed with the OP Stack. The listing by Upbit grants the token access to one of Asia’s most dynamic retail crypto markets.

Exchange sets early trading limits

Upbit has stated that B3 deposits and withdrawals will exclusively be processed through the Base network. Users are encouraged to confirm the contract address before transferring funds, as deposits through unsupported networks may face extended refund delays.

Standard measures were enacted during the initial trading period. Buy orders were restricted for about five minutes post-launch, and Upbit limited low-priced sell orders and non-limit order types for around two hours.

Upbit warned that, “If a certain level of liquidity is not established after deposit and withdrawal services begin, the launch of trading support may be deferred.” This statement reflects the exchange’s adaptability in modifying trading based on market depth.

B3 aligns with recent Upbit listing trends

The addition of B3 comes after several recent market listings by Upbit that have drawn significant attention to select tokens. According to crypto.news, Dogwifhat saw a notable increase following the launch of WIF trading pairs against KRW, BTC, and USDT on May 6. The report also pointed out that new listings could expose traders to rapid price fluctuations.

Previously, crypto.news indicated that Centrifuge jumped over 180% after Upbit announced trading support, while another report revealed that Internet Computer saw approximately $100 million added to its market value after Upbit began ICP trading against KRW, BTC, and USDT.

These examples demonstrate why new KRW trading pairs attract considerable market interest, offering direct access to local currency and potentially drawing sudden liquidity from South Korean retail traders.

OP Stack connection enhances market significance

The connection of B3’s Base and OP Stack reflects broader infrastructural trends at Upbit. Recently, crypto.news reported that Upbit has partnered with Optimism to develop GIWA Chain, an Ethereum layer-2 network leveraging the OP Stack.

As per that report, GIWA Chain will allow Upbit to manage its infrastructure within Optimism’s self-governing enterprise framework. The exchange will control its own sequencer, which handles transaction ordering and collects network fees.

Though the B3 listing is separate from GIWA Chain, it is linked to blockchain activities utilizing the OP Stack. For traders, this listing positions B3 within South Korea’s won market while enhancing the visibility of Base-linked layer-3 projects.