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>>Upbit Espresso debut sparks extensive Korean market growth for a layer‑2 scaling solution

Upbit Espresso debut sparks extensive Korean market growth for a layer‑2 scaling solution

crypthub

about 12 hours ago

Upbit Lists Espresso (ESP)

Upbit announced the addition of the Espresso (ESP) token, launching trading at 08:00 UTC on 24 Feb 2025. The move broadens access to a key layer‑2 scaling solution for South Korean retail and institutional investors. It underscores growing confidence in modular blockchain architectures. The listing marks a strategic expansion of Upbit’s crypto portfolio.

Market Mechanics and Trading Pairs

ESP will trade against KRW, BTC, and USDT through three simultaneous pairs. Deposit windows opened hours before launch, while withdrawals are temporarily paused to ensure stability. The KRW pairing is expected to generate significant retail volume and rapid price discovery. Crypto‑native pairs cater to global arbitrage and institutional participants.

Espresso Technology and Shared Sequencing

Espresso delivers a decentralized shared sequencing layer for rollups, replacing single‑operator sequencers with an open marketplace. This design enhances security, interoperability, and scalability across blockchains. The ESP token enables DAO governance, validator staking, and fee payments for sequencing services. It thus becomes essential infrastructure for rollup developers.

Implications for the Korean Crypto Landscape

The listing reflects Upbit’s focus on substantive infrastructure projects, educating investors about foundational Web3 tech. Greater liquidity may lower barriers for Korean startups to integrate shared sequencing. It aligns with South Korea’s tightening regulatory framework, signaling compliance and long‑term viability. Other Asia‑Pacific exchanges may follow, extending ESP’s reach regionally.