Monad trading pairs expected to go live in South Korea with Upbit listing

Upbit has confirmed the listing of Monad (MON), adding KRW, BTC, and USDT trading pairs as the platform continues to expand its support for new blockchain networks. 

The exchange announced that deposits and withdrawals through the Monad network will be processed within three hours of notice, allowing users to transfer funds in anticipation of trading. The activity is set to begin at 00:00 on November 25, a timing that puts the token’s launch under more regulatory focus in exchange compliance across the country.

Exchange issues trading and deposit instructions

Upbit’s announcement provided a detailed set of guidelines for the listing of MON. Buy orders will be temporarily limited for approximately 5 minutes after the start of trading support. The minimum selling price reference will be notified in advance through the same notice. For about two hours after the opening of trading, only limit orders will be allowed, and all other types of orders will be disabled.

The exchange issued a warning about precautions concerning the deposits and noted that transactions are only supported via the designated Monad network. Users were warned to carefully check network information, as deposits made from unsupported networks may take a long time to receive refunds.

Upbit added that deposits and withdrawals would only be conducted to personal wallet addresses that have been verified for ownership.

The platform also warned that deposits made before the reference price is recorded on CoinMarketCap, or before Upbit’s own trading support activates, would be subject to travel rule verification regardless of transfer size.

In cases where digital assets originate from exchanges not recognized as eligible under domestic rules, the deposits would not be reflected. Refunds for such transactions may require a lengthy processing period. Upbit further noted that large deposits of unidentified origin may require documentation to prove the origin of the funds, as per Article 17, Section 8 of its Terms of Use.

Upbit stated that if MON liquidity does not reach a sufficient limit after the launch of deposit and withdrawal services, the start of trading could be delayed.

Listing comes amid FIU pressure on local exchanges

The announcement comes at a time when the Financial Intelligence Unit in South Korea is ramping up its investigations into crypto exchanges, following a series of compliance failures detected during physical inspections.

The FIU is set to impose penalties on several exchanges after detecting failures in their anti-money laundering and know-your-customer procedures, according to local reports.

The enforcement cycle of the agency took off in August 2024, when Dunamu launched its first wave of direct inspections. Those reviews exposed millions of compliance failures regarding customer identification and transaction monitoring.

In November 2025, Dunamu was ordered to pay a fine of approximately 35.2 billion won for issues arising from verification process failures, erroneous transaction restrictions, and violations of the travel rule requirements in South Korea.

Following the Dunamu ruling, the FIU increased its inspection sequence to Korbit, GOPAX, Bithumb, and Coinone. Industry sources show the agency is using a chronological penalty schedule, which means that exchanges reviewed after Dunamu are next in line to be sanctioned.

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