In a significant boost for privacy-focused cryptocurrencies, South Korea's two leading digital asset exchanges, Upbit and Bithumb, have simultaneously announced the listing of zkPass (ZKP). The listings provide direct access to the Korean Won (KRW) market, a major gateway to one of the world's most active retail crypto trading populations.
Upbit, the country's largest and most regulated exchange, will list ZKP for trading against Bitcoin (BTC), Tether (USDT), and KRW, with trading scheduled to begin at 8:30 a.m. UTC on December 26, 2025. Bithumb's listing is for the KRW pair, with trading set to commence at 6:00 PM local time on the same day. Bithumb has set a reference price of 176 won for the first transaction and will enforce standard new-listing trading restrictions, including a 5-minute buy-order freeze and a 2-hour limit-order-only period at launch.
The move is seen as a major endorsement of the zkPass protocol, which utilizes zero-knowledge proof (ZKP) technology to enable private data verification without revealing the underlying information. Analysts view the listings as a strategic shift by top-tier, compliant exchanges towards supporting infrastructure projects with clear utility, moving beyond purely speculative assets. The rigorous due diligence processes of both exchanges lend substantial credibility to the zkPass project.
However, the news comes with cautions. The token is expected to face high volatility following its debut on the major platforms. Furthermore, the privacy token sector remains under intense global regulatory scrutiny, presenting an ongoing risk factor. Both exchanges have issued standard warnings to investors about the inherent volatility of cryptocurrency investments.
