Altcoin News: Upbit Cancels Orderbook Partnership with Bittrex

September 27, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The South Korean cryptocurrency exchange Upbit stopped cooperation with the American Bittrex exchange as part of a plan to reorganize the Bitcoin, Ethereum and USDT markets, writes local media.

Earlier, exchanges had an agreement on a single order book, so orders placed on Bittrex were also displayed on Upbit.

In an appeal to customers, Upbit announced its intention to make changes in the markets of the three aforementioned cryptocurrencies. The changes affect the market, limit and stop-limit orders, however, the company does not provide details at the current stage.

“As a result [of the changes], you will no longer be able to see orders placed at Bittrex in the Upbit BTC, ETH and USDT markets,” the local media wrote.

Later, Bittrex was excluded from the Upbit message:

“Only Upbit member’s orders are displayed on the order book,” and reads, “After changes are applied, only orders place by Upbit users are displayed on BTC, ETH and USDT markets.”

Last week, Upbit announced the delisting of six cryptocurrencies focused on private transactions, including Monero, Dash and Zcash.

“It was decided to stop trading these crypto assets in order to avoid the possibility of money laundering and their inflow from external networks,” the exchange annonuced then.

Upbit was launched at the end of 2017 as a joint project of the South Korean company Dunamu and Bittrex.

Author: Marko Vidrih