South Korean Exchange Bithumb Partners With Trump Family-Backed WLFI to Boost DeFi Expansion
South Korean crypto trade Bithumb has signed a strategic partnership with World Liberty Financial, the Trump-affiliated crypto enterprise, on Monday.
Per an official statement launched Tuesday, the partnership will assist foster world DeFi progress. Further, the deal goals to discover new enterprise alternatives within the DeFi sector and strengthen world investor confidence.
“This collaboration with WLF will likely be a big milestone in enhancing Bithumb’s world competitiveness,” mentioned Bithumb CEO Lee Jae-won. “We will proceed to strengthen our strategic community going ahead.”
The corporations signed a strategic memorandum of understanding (MOU) on Monday on the Bithumb Financial Tower in Seoul. Bithumb’s Lee, World Liberty co-founder Zak Folkman and executives from each companies attended.
Bithumb, WLF Partnership Could Bring Wider Investor Base and New Markets
The partnership follows Lee’s assembly with Eric Trump, World Liberty co-founder and Trump’s second son, on the Hong Kong Bitcoin Asia 2025 occasion in August.
Lee pledged to proceed strengthening the agency’s “strategic community.”
“This collaboration with WLF will likely be a big milestone in enhancing Bithumb’s world competitiveness,” he added.
Besides, the collaboration might be a crowd-puller, particularly for retail buyers who’ve been hesitant about crypto due to perceived volatility or lack of regulation.
Combining Bithumb’s technical experience with WLF’s strategic imaginative and prescient, the initiative might additionally speed up the event and adoption of recent DeFi merchandise.
The trade mentioned that it additionally mentioned strategic collaboration with stablecoin issuer Circle concurrently, in an effort to proceed its world enlargement.
Exchange Recently Faced Regulatory Hurdles
South Korean monetary watchdogs not too long ago sounded an alarm on local exchanges, together with Bithumb, concerning crypto lending and margin buying and selling providers. The regulators cited issues over high-leverage buying and selling operations.
Following the regulatory strain, Bithumb introduced scaling again its crypto lending service, reducing its leverage ratio from x4 to x2.
Early this month, the trade confronted a sudden outage, following a disruption inside its pc programs. Bithumb promised to compensate customers who had been affected by the 100-minute outage.
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