South Korea-based cryptocurrency Exchange Upbit announced on August 19, 2025 that it will open Altcoin API3 to trade with KRW in USDT pairs.
Upbit to list API3 in the KRW and USDT market
According to the official statement, API3 only supports deposits and withdrawals via the Ethereum Network. If a user transfers funds over the wrong network, the process of reimbursing assets can take time. Transactions begin on August 19th at 5pm.
The exchange also announced that the final closing price of API3 in the BTC market is 0.00000741 BTC, equivalent to about 1,197 KRW or 0.8605 USDT.
Upbit implements certain restrictions to maintain price stability during the launch phase of the market. Purchase orders are limited to the first 5 minutes of a transaction, and sales orders are not permitted at prices below 10% of previous closing prices. Only limit orders are valid for the first 2 hours.
API3 is a project aimed at developing distributed APIs (application programming interfaces) for Web 3.0. Traditional API services are typically provided via centralized platforms, but API3 aligns this system with blockchain technology. This objective is to provide DAPPS with secure and cost-effective access to real-world data without the need for a centralized intermediary.
According to experts, both API3’s Upbit list gives project visibility in the Korean market and raises interest in Web3-centric infrastructure projects.
*This is not investment advice.