Upbit Announces Listing of These Two Altcoins

Upbit will list PayPal USD (PYUSD) and JPY Coin (JPYC) as two new altcoins.

According to its official announcement, Upbit will launch spot trading support for PayPal USD (PYUSD) and JPY Coin (JPYC). Both altcoins will be traded in KRW, BTC, and USDT pairs. Trading is scheduled to begin on September 17 at 06:00 AM TRT.

Deposits and withdrawals will only be supported via the Ethereum network. These services are expected to open within 1 hour and 30 minutes of the announcement. Upbit stated that transfers outside the specified network will not be supported and the refund process for deposits made via the wrong network may take a long time.

After trading support begins, buy orders will be restricted for the first 5 minutes. During the same period, sell orders placed at levels 10% below the previous day’s closing price will also be restricted. Additionally, only limit orders will be accepted for approximately two hours; other order types and conditions will be restricted.

Upbit announced that the prices used for trading restrictions will be determined based on CoinMarketCap data. It was noted that trading support may be postponed if liquidity does not reach sufficient levels.