Upbit Bitcoin Exchange Announces It Will List This Memecoin on Its Spot Trading Platform! Here are the Details
South Korea’s leading crypto exchange Upbit has announced that it has listed Pudgy Penguins (PENGU) on the KRW, BTC, and USDT markets, expanding investors’ access to one of the most well-known NFT-themed meme tokens.
Upbit Lists Pudgy Penguins (PENGU) for Trading on KRW, BTC and USDT Markets
The inclusion of this list is seen as the latest sign of increasing market support for meme coins with strong community backing and brand recognition.
According to Upbit’s announcement, PENGU deposits and trading will begin shortly, and specific measures and temporary restrictions will be implemented to ensure a smooth market entry.
Upbit reminded users to carefully check network compatibility before depositing PENGU, stating that incorrect deposit transactions could require a lengthy recovery process.
According to South Korea’s Travel Regulation, PENGU transfers are only accepted from verified virtual asset service providers (VASP’ler) or from personal wallets that are linked to verified users on the whitelist.
Large or suspicious deposit transactions may require users to provide proof of funds under Upbit’s compliance framework.
What is PENGU?
PENGU is a fungible token created by the team behind Pudgy Penguins, a renowned NFT collection featuring cartoon penguin avatars.
Initially launched as a PFP ( profile picture ) collection, Pudgy Penguins has gained mainstream popularity by entering Web2 markets through toy sales, brand collaborations, and merchandise sales.
PENGU token was introduced to overcome the scalability limits of the fixed supply NFT model and aims to increase community participation.
Although PENGU is currently classified as a meme coin that does not have an official use, Upbit states that it could evolve to integrate the project’s token use cases as the ecosystem matures.
With its entry into Upbit, PENGU joined the growing list of meme and community-focused tokens that attract interest among both individual and institutional crypto investors.