MOCA Coin Expands Reach in South Korea with Upbit and Bithumb Listings
The MOCA Foundation, known for its stewardship of MOCA Coin (MOCA), has announced the listing of MOCA Coin on Upbit and Bithumb, two of South Korea's leading cryptocurrency exchanges, according to Animoca Brands. This strategic move is expected to significantly enhance the coin's accessibility and visibility within the South Korean market.
Expansion into Key Markets
MOCA Coin's listing on these prominent platforms follows the recent partnership announcement between Mocaverse and SK Planet, a major player in South Korea's information and communications technology sector. This collaboration aims to integrate blockchain technology into SK Planet's existing services, leveraging Mocaverse's Realm SDK to enhance user experiences.
Complementing the exchange listings, Binance Futures has introduced a USDⓈ-Margined MOCAUSDT perpetual contract, allowing traders to engage with MOCA Coin using up to 75x leverage. These contracts, quoted and settled in USDT, BUSD, or USDC, provide a new avenue for traders to participate in the MOCA Coin market.
Mocaverse's Role in Web3
Initially launched as an NFT membership project by Animoca Brands, Mocaverse has evolved into a comprehensive platform, Moca Network, aimed at simplifying Web3 access. It offers decentralized identity solutions and has registered over 1.8 million on-chain users since its inception in November 2023. This expansion aligns with Mocaverse's mission to bridge traditional internet services with blockchain technologies, thus driving the mainstream adoption of Web3.
Yat Siu, executive chairman and co-founder of Animoca Brands, highlighted the strategic significance of these developments, emphasizing that they mark a commitment to the South Korean market and reflect growing recognition of Mocaverse's potential in the Web3 space.
Market Impact and Future Prospects
At the time of writing, MOCA Coin reports a 24-hour trading volume exceeding US$1.6 billion, underscoring its growing market presence. Kenneth Shek, project lead for Mocaverse, expressed enthusiasm about the opportunities these listings present for South Korean users, particularly in light of the partnership with SK Planet.
Mocaverse continues to build its ecosystem, aiming to decentralize user onboarding through its Realm SDK, which supports interoperable wallet systems and digital identities. This initiative is backed by a $20 million token swap with the TON Foundation, further bolstering its user base and enhancing its reputation layer.
The MOCA Foundation remains committed to fostering innovation and collaboration in Web3, serving as a platform to build a robust cultural economy powered by MOCA Coin. With ongoing developments, it seeks to empower its community through the Moca DAO, facilitating cross-DAO collaborations and governance innovations.