Bithumb, the second largest cryptocurrency exchange in Korea, is preparing to issue its own token ‘bithumb’.

Bithumb has established a Singaporean corporation to issue Bithumb Coin and had explanation event for organizations and investors.

Oh Young Jun, the advertisement manager of Bithumb, said, “a company that the Singaporean affiliate of Bithumb would buy and merge is preparing the issuance of Bithumb Coin.”

An industry expert says that there could be two types of Bithumb Coin. He expects that as cryptocurrency opening (ICO) is prohibited in Korea, they could have ICO in overseas countries including Singapore.

This kind of Bithumb’s move is related to continual token issuance of cryptocurrency exchanges recently. Last year, Huobi, a Chinese cryptocurrency exchange, issued its own ‘Huobi token’. Binance also issued ‘Binance token’ that can be transacted inside and outside the platform.

If an exchange issues a cryptocurrency that can be used in a platform, it can obtain the exchange operation cost and use it for coin transactions. Lee Jeong A, the vice president of Bithumb, declined to comment.