Korbit Adds Ripple Support for Recurring Cryptocurrency Purchases

Domestic virtual asset exchange Korbit announced on the 24th that it has made updates including adding Ripple to its virtual asset installment purchase service and adding new coins to its auto trading service.

Korbit’s installment purchase service, introduced last year, allows customers to automatically buy a predetermined amount of Bitcoin and Ethereum repeatedly on a daily, weekly, or monthly basis. The advantage is that customers can invest stably in the highly volatile virtual asset market. Among the top five Korean won market virtual asset exchanges in Korea, Korbit is the only one currently offering such an installment purchase service.

The recent addition of Ripple to Korbit’s installment purchase service reflects the trend of increased interest from virtual asset investors in Ripple, as its price surged following the summary judgment announcement in the lawsuit between Ripple Labs, Ripple’s issuer, and the U.S. Securities and Exchange Commission (SEC). Ripple has risen to 4th place in market capitalization among all virtual assets. Along with this, Korbit raised the per-transaction limit for installment purchases from the previous 1 million KRW to 5 million KRW.

Notably, customers who have continuously used Korbit’s virtual asset installment purchase service since last year have recorded an average return exceeding 30% based on the market price as of the 18th. Despite last year’s crypto winter, those who steadily purchased virtual assets have achieved significant profits as the virtual asset market has shown signs of recovery, with Bitcoin prices recently rising to around 40 million KRW.

Meanwhile, Korbit has newly added a total of four virtual assets?Pepe, Sui, Arbitrum, and Galaxy?to its auto trading service, which allows trading bots to automatically buy and sell virtual assets according to conditions set by customers. Korbit’s auto trading service is a grid trading bot service similar to those found on overseas virtual asset exchanges, and among the top five Korean won market virtual asset exchanges, Korbit is again the only one to develop and provide this service directly.

This content was produced with the assistance of AI translation services.