Upbit lists io net token on KRW market on May 29

io.net's IO token began trading on Upbit's Korean won market on May 29, with deposit and withdrawal support through the Solana network.

The listing gives South Korean retail investors direct access to IO, a decentralized physical infrastructure network token that powers a global GPU compute marketplace, Upbit said in a listing notice. IO tokens can be deposited and withdrawn exclusively via the Solana network.

Upbit, South Korea's largest cryptocurrency exchange by trading volume, has listed more than 200 tokens across its KRW, BTC and USDT markets. The KRW listing could boost IO's trading volume and price by expanding access to South Korea's retail-heavy investor base, a demographic known for driving significant price swings in newly listed tokens. Upbit listings have historically triggered price rallies for smaller-cap altcoins as local traders gain direct fiat on-ramp access.

The listing comes as io.net continues to expand its decentralized GPU network, which allows users to rent computing power for artificial intelligence and machine learning workloads. The project, built on Solana, competes with other DePIN protocols such as Render Network and Akash Network.

South Korea's crypto market has remained one of the most active globally, with the Korean won frequently ranking as the largest fiat currency pair for Bitcoin trading volume after the US dollar. Upbit alone accounts for more than 80% of domestic spot trading volume, according to CoinGecko data. The exchange's KRW market listings have become a closely watched catalyst for altcoin traders, with tokens often seeing double-digit percentage gains in the days following a listing announcement.

This article is for informational purposes only and does not constitute investment advice.