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| January 17, 2019

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Indonesia Archives -

In Jittery Indonesia, a New Cry of ‘Water Is Coming!’

December 25, 2018 |

Panicked residents, police, and soldiers in the remote fishing village of Sumur, Indonesia, clobbered by a devastating weekend tsunami ran to higher ground Tuesday, shouting “Water is coming! Water is coming!” and reciting verses from the Quran as emergency messages were broadcast over mosque speakers. It proved to be a…
Newser

CNN

Tsunami strikes without warning, killing 222 in Indonesia

December 23, 2018 |

A tsunami that struck Indonesian coastlines without warning Saturday night killed at least 222 people and left hundreds of others injured or missing, officials said.
CNN.com – RSS Channel – World

CNN

Tsunami hits Indonesia: Dozens killed, hundreds injured

December 23, 2018 |

A tsunami that hit Pandeglang, Serang and South Lampung, Indonesia, Saturday night, killed at least 43 people and injured at least 582, Sutopo Purwo Nugroho, head of public relations at Indonesia’s National Disaster Mitigation Agency, said on television.
CNN.com – RSS Channel – World

Indonesia Lion Air pilots fought to control aircraft before crash; investigators say plane not ‘airworthy’

November 28, 2018 |

As a Lion Air jet rocketed into the sky after taking off from Indonesia’s capital city last month, it’s pilots fought to maintain control as an automatic safety system repeatedly forced the aircraft’s nose down, investigators said Wednesday, adding that the plane should not have been in service. 
FOX News

CNN

Dead whale in Indonesia had swallowed 1,000 pieces of plastic

November 21, 2018 |

In just the latest reminder of the dangers of pollution in our oceans, a dead whale in Indonesia has been found with 13.2 pounds (six kilograms) of plastic waste in its stomach.
CNN.com – RSS Channel – World

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.


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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