Upbit tackles information asymmetry in digital assets market

The head office of Upbit in southern Seoul / Yonhap

By Yoon Ja-young

Unlike stock markets, digital assets markets run 24 hours a day. This entails potential high returns along with risks. While investors are provided with diverse information in traditional markets such as stocks and real estate, digital assets markets face the problem of information asymmetry.

By providing quality information to investors, digital assets markets are getting rid of the old status quo. And at the forefront of leading this change is the country's largest cryptocurrency exchange, Upbit. It is working to demolish barriers and provide trustworthy information. It is expanding the arena for communication among developers, investors and projects.

Amid the flood of information in digital assets markets, it has been difficult for investors to get the information they need and can trust.

Dunamu, the operator of Upbit, launched the Upbit investor protection center in December 2021 to integrate and systematically provide quality information to investors. The center is currently providing education on digital assets for free, and investors can learn at three different levels: basic, intermediate and advanced.

The Upbit logo / Courtesy of Dunamu

The center also has been translating white papers of the digital assets industry into Korean, and providing them to investors for free. It also translated regulations and administrative orders, trends and research overseas to tackle the problem of information asymmetry. On top of producing content with digital assets experts to provide new insights on the market, it also launched a YouTube channel in August 2022 to lower barriers for investors.

Upbit also launched the Upbit Cryptocurrency Index (UBCI) in May 2018, which has become a benchmark for investors with indexes on the market, specific themes and strategic investments.

Upbit has been focusing on increasing contact points with investors, to go beyond the unidirectional relay of information related to digital assets. The Upbit Developer Conference (UDC) held every year since 2018 comes as a part of such efforts. As the biggest blockchain conference in the country, it has become a venue for not only developers but also other experts, industries and even students ― anyone interested in blockchain technology.

The event was attended last year by more than 3,000 people, who shared diverse insights and engaged in communication ― between developers and investors.

Upbit also held the AMA DU Festival at Dunamu's metaverse platform 2ndblock in April, which offered a venue for exchange between projects and investors. It aimed at enhancing investors' understanding of digital assets and helping them make the right decision.

“As the most trusted digital assets exchange, we plan to provide investors with information that they can trust. We will continue our best efforts to form a market that is desirable,” a spokesperson for Upbit said.