Upbit has opened Bifrost trading against the South Korean won and USDT, giving BFC two new markets on South Korea’s largest cryptocurrency exchange by trading volume.
Trading in the BFC/KRW and BFC/USDT pairs began at 13:45 Korea Standard Time (04:45 UTC) on 10 September 2026. The exchange issued its listing notice shortly before the scheduled launch and retained its existing Bitcoin-denominated BFC market.
Only the Bifrost Network is supported for BFC deposits and withdrawals. Upbit warned users not to transfer versions of the token through other blockchains, even if those networks are supported elsewhere. Deposits sent via an unsupported network will not be credited automatically, and recovering them could involve a lengthy process dependent on whether the transaction can be identified and technically recovered.
The exchange said the launch could be delayed if deposits and withdrawals failed to generate sufficient liquidity, although no delay had been announced when the information was published.
Upbit displayed a previous closing value of 0.00000015 BTC for BFC, which it estimated at 15.96 won and 0.1788 USDT. Those figures were used as reference prices for opening restrictions and do not represent confirmed trading performance after the new markets opened. No verified data showed a sustained reaction in BFC’s price.
Temporary restrictions applied at launch
Upbit initially prevented buy orders for approximately five minutes and restricted sell orders priced more than 10% below the previous closing value. It also allowed only limit orders during the first two hours of trading.
Market orders and other conditional order types were unavailable during that period. The measures were temporary and did not establish a permanent trading range; prices could move beyond the opening reference level once normal trading resumed.
Upbit has used similar controls for other new listings. Eight altcoins received new Upbit trading pairs in August, while CAP was listed against KRW, BTC and USDT with network requirements and temporary order restrictions.
Bifrost describes itself as a multichain middleware platform for decentralised applications. Its network was built with the Substrate framework and is compatible with the Ethereum API, allowing developers to use Ethereum-focused libraries and development environments.
BFC is the ecosystem’s utility asset and can be used to pay fees for multichain decentralised-finance services on BiFi, or Bifrost Finance.
Bifrost also operates BTCFi, a Bitcoin-focused decentralised-finance service. The project says users can provide Bitcoin as collateral to mint BtcUSD, a dollar-denominated stablecoin, which can then be used in supported lending and yield-generating applications. Bifrost describes BtcUSD as cross-chain infrastructure for expanding Bitcoin-backed liquidity across DeFi environments, although it does not guarantee returns. Such services involve smart-contract, liquidation, bridge and stablecoin risks.
Upbit sets verification requirements
BFC transfers must comply with South Korea’s Travel Rule. Deposits from exchanges outside Upbit’s approved virtual-asset service provider list may not be credited, while personal wallets must complete Upbit’s ownership-verification process.
The exchange may request evidence about the source of funds for large deposits from unclear origins as part of its anti-money laundering and customer-verification procedures. Upbit’s operator, Dunamu, was recently approved to use South Korea’s administrative data system for customer checks.
Upbit also announced Renzo’s REZ token for its USDT market on 10 September, but that listing is separate. REZ trading was delayed from 15:00 to 18:00 KST, with Ethereum retained as its supported deposit network.
BFC users must continue using Bifrost Network. Upbit has not indicated support for Ethereum or any other blockchain version of the token, and future trading activity will determine the liquidity of the new pairs. The listing does not guarantee higher prices, sustained volume or wider adoption of Bifrost’s BTCFi products.
