South Korean Exchange Upbit Ends Orderbook Partnership With Bittrex

South Korean Exchange Upbit Ends Orderbook Partnership With Bittrex

Upbit ceases order book sharing partnership with counterpart cryptocurrency exchange Bittrex.

South Korean cryptocurrency exchange Upbit has broken its partnership with Bittrex in a reorganization of its Bitcoin (BTC), Ether (ETH) and Tether (USDT) markets, local South Korean news outlet Decenter reported on Sept. 25. 

Previously it had a shared order book arrangement, with Bittrex orders being visible in the Upbit bid windows.

Upcoming reorganization of markets

In a notice to customers, Upbit announced its intention to introduce changes into its BTC, ETH and USDT markets. These changes include the introduction of market orders, limit orders, and stop-limit features, although no further details of this are given.

The notice did, however, include particular mention of the order book sharing with Bittrex being discontinued. This was later edited to remove specific reference to Bittrex.

Bittrex edited out of notice

The original wording, under the heading, “Discontinued order book sharing with Bittrex,” was as follows:

“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.”

However, the updated notice has the heading, “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.”

Upbit recently emerged as one of the leading exchanges in the latest Blockchain Transparency Institute report. It has also delisted privacy coins over concerns about money-laundering.

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