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Leading South Korea-based cryptocurrency exchange Upbit has announced that it will completely terminate trading support for digital assets NEM (XEM) and StormX (STMX) on July 3, 2025.
Upbit Ends NEM (XEM) and StormX (STMX) Trading Support
The decision is based on comprehensive assessments following the previous placement of both crypto assets under investment alert status.
XEM and STMX to Delist on July 3
According to the statement, XEM and STMX pairs (XEM/KRW, XEM/BTC and STMX/KRW, STMX/BTC) will not be available for trading on the Upbit platform as of 15:00 on Thursday, 03-07-2025. Buy and sell orders placed until this date will be automatically canceled.
Why Are They Being Removed From Operation?
Upbit stated that the decision to end transaction support for NEM was made due to lack of transparency, insufficient community participation, and uncertainty about the sustainability of the project. Similarly, StormX cited reasons for the removal of transaction support as failure to provide the necessary notifications by the project, lack of transparent processes for structural changes, and questioning the sustainability of the business model.
Both assets were placed on the “investment alert” list on May 19, 2025. Upbit announced that it has continued to monitor the projects since this date and has decided to terminate transaction support, stating that the necessary improvements have not been made.
After the end of transaction support, users will be able to withdraw their XEM and STMX balances from the exchange until August 4, 2025. Upbit warned users to withdraw their assets in a timely manner, stating that transactions after this date may take a long time due to technical reasons.
*This is not investment advice.
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