Image Image Image Image Image Image Image Image Image Image Image Image

| November 15, 2018

Scroll to top

Top

Indonesia Archives -

Boeing Withheld Information on 737 That Crashed in Indonesia, According to Safety Experts and Others

November 13, 2018 |

Boeing withheld information about potential hazards associated with a new flight-control feature suspected of playing a role in last month’s fatal Lion Air jet crash, according to safety experts involved in the investigation, as well as midlevel FAA officials and airline pilots.
WSJ.com: US Business

Boeing Withheld Information on 737 That Crashed in Indonesia, According to Safety Experts and Others

November 13, 2018 |

Boeing withheld information about potential hazards associated with a new flight-control feature suspected of playing a role in last month’s fatal Lion Air jet crash, according to safety experts involved in the investigation, as well as midlevel FAA officials and airline pilots.
WSJ.com: What’s News Asia

South Korea’s Upbit to Launch Crypto Exchanges in Thailand and Indonesia

November 12, 2018 |

South Korean cryptocurrency exchange Upbit has reportedly started marketing new crypto exchanges in Thailand and Indonesia as part of its global expansion plans. The company recently launched an exchange in Singapore. Over 130 coins and 240 trading pairs will be offered on both of the new Upbit exchanges, according to their websites.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Latest Expansion Plan

South Korea’s Upbit to Open Exchanges in Thailand and IndonesiaUpbit, one of South Korea’s largest cryptocurrency exchanges, has been marketing new crypto exchanges in Thailand and Indonesia in their local languages, according to local media. The company has set up a website for each exchange.

Edaily reported Upbit describing on Friday that “Both countries appreciate the growth potential of the cryptocurrency industry.” The exchange was quoted by the publication as saying:

Thailand and Indonesia are very interested in blockchain and cryptocurrency, so we thought it would be a good thing to have an online presence before launch.

Upbit is operated by Dunamu Inc., an affiliate of Kakao Corp. which operates the country’s most popular chat app, Kakaotalk. Upbit is also affiliated with U.S.-based exchange Bittrex.

South Korea’s Upbit to Open Exchanges in Thailand and IndonesiaDunamu CEO Lee Seok-woo has been planning overseas expansion for his exchange. “From the outset of the Upbit business, the company had a blueprint to become a global foreign exchange, not limited to the domestic market,” the news outlet detailed.

Recently, Upbit officially launched an exchange in Singapore that supports Singapore dollars. The company plans for the new exchanges to support the baht in Thailand and the rupiah in Indonesia.

Upbit Thailand

“Prepare to meet Upbit Thailand soon” is the message displayed on the front page of the Thai Upbit website. The exchange also states that its service is in “closed beta” phase and is currently available only to a limited number of early registrants. There will be 131 coins listed and 241 trading pairs.

South Korea’s Upbit to Open Exchanges in Thailand and Indonesia

The Thai government enacted cryptocurrency regulations in May. It is currently evaluating a number of applicants wanting to operate in the crypto space. Six crypto exchanges and one dealer have been allowed to operate in the country while their applications are being reviewed since they were in business prior to the regulations. The central bank has also greenlighted commercial banks to create subsidiaries for cryptocurrency activities.

Upbit Indonesia

Upbit’s Indonesian website is less developed than its Thai counterpart. “Buy and sell the latest crypto assets from our partner, Bittrex, the premium exchange from the United States” is the translation of the message displayed on its front page. According to the website, 156 coins and 276 trading pairs will be supported.

South Korea’s Upbit to Open Exchanges in Thailand and Indonesia

In June, the Indonesian Futures Exchange Supervisory Board signed a decree to regulate cryptocurrencies as commodities.

Domestic Environment

Zdnet described last week that the expansion to Thailand and Indonesia is Upbit’s effort to increase its overseas user base, stating:

Upbit is experiencing difficulties in increasing users because it has not been able to issue a new real-name account since January of this year. Upbit has said it plans to step up its overseas expansion, starting with Southeast Asia.

South Korea’s Upbit to Open Exchanges in Thailand and IndonesiaThe South Korean government implemented the real-name system in January. However, banks have been reluctant to provide this service to crypto exchanges. So far, they have only offered the real-name conversion service to the country’s top four crypto exchanges, including Upbit.

“I am in a desperate situation which I can lose a great opportunity if I miss this period,” Edaily quoted Lee as saying. He further explained that while “the situation in Korea is not good due to various regulations,” competition is increasing. Lee emphasized:

If we wait for the domestic trading environment to improve, we will be left behind in the global market.

What do you think of Upbit launching crypto exchanges in Thailand and Indonesia? Let us know in the comments section below.


Images courtesy of Shutterstock and Upbit.


Need to calculate your bitcoin holdings? Check our tools section.

The post South Korea’s Upbit to Launch Crypto Exchanges in Thailand and Indonesia appeared first on Bitcoin News.

Bitcoin News

Indonesia Crash Probe Zeros In on Faulty Flight-Control Gear

November 8, 2018 |

Indonesian investigators said a malfunctioning flight-control system fed widely divergent readings to the pilot and co-pilot during the second-to-last flight of the Lion Air jet that plummeted into the sea last week.
WSJ.com: What’s News Asia

No Survivors Found After Indonesia Plane Crash

October 29, 2018 |

A Lion Air passenger jet crashed into the sea after taking off from Jakarta, Indonesia, Monday—and no survivors from the 189 people on board have been found. The airline says the Boeing 737 Max 8, a brand new aircraft, was carrying 181 passengers, including two infants, and eight crew…
Newser

CNN

Indonesia Lion Air 737 crashes after leaving Jakarta

October 29, 2018 |

A Lion Air flight with 189 people on board has crashed during a short flight from the Indonesian capital Jakarta to Pangkal Pinang, according to Indonesia’s National Search and Rescue Agency (SAR).
CNN.com – RSS Channel – World

Plane With 188 People on Board Crashes Off Indonesia

October 29, 2018 |

A Lion Air jetliner carrying 188 people crashed shortly after takeoff from Jakarta in what was the first accident involving a new variant of the popular Boeing 737.
WSJ.com: What’s News Asia

CNN

20 people killed when flooding wipes out part of school in Indonesia

October 15, 2018 |

Twenty people were killed when torrential rains and flooding triggered mudslides that wiped out part of an elementary school in Indonesia’s North Sumatra, officials said.
CNN.com – RSS Channel – World

Aid rolls into Indonesia disaster city as more victims found

October 6, 2018 |

Search teams pulled bodies from obliterated neighborhoods in the earthquake and tsunami stricken Indonesian city of Palu on Saturday as more international aid arrived and humanitarian workers fanned out in the countryside.
FOX News

CNN

Indonesia tsunami: Death toll rises sharply as desperation grows

October 2, 2018 |

Desperation is growing in the stricken Indonesian city of Palu as residents faced a fifth day with little food or clean drinking water and the official death toll mounted in the wake of Friday’s devastating earthquake and tsunami.
CNN.com – RSS Channel – World