South Korea’s leading crypto exchange Upbit has announced the listing of Pudgy Penguins (PENGU) on the KRW, BTC, and USDT exchanges, expanding investors’ access to one of the most recognizable NFT-themed meme tokens.
Upbit Lists Pudgy Penguins (PENGU) for Trading on KRW, BTC and USDT Markets
Its inclusion on this list is the latest sign of growing market support for meme coins with strong community support and brand awareness.
According to Upbit’s announcement, PENGU deposits and trading will commence shortly, and certain precautions and temporary restrictions will be implemented to ensure a smooth market entry.
Upbit reminds users to carefully check network compatibility before depositing PENGU, noting that incorrect deposits may require a lengthy recovery process.
Under South Korea’s Travel Rule, PENGU transfers are only accepted from verified virtual asset service providers (VASPs) or whitelisted personal wallets linked to a verified user.
Large or suspicious deposits may require users to provide proof of funds under Upbit’s compliance framework.
What is PENGU?
PENGU is a fungible token created by the team behind Pudgy Penguins, a well-known NFT collectible featuring cartoon penguin avatars.
Originally launched as a PFP (profile picture) collection, Pudgy Penguins has gained mainstream popularity by expanding into Web2 markets through toy sales, brand collaborations, and merchandise.
The PENGU token was introduced to overcome the scalability limits of the fixed-supply NFT model and aims to increase community engagement.
While PENGU is currently classified as a meme coin with no official use case, Upbit notes that the project could evolve to integrate token use cases as its ecosystem matures.
With its entry on Upbit, PENGU joins a growing list of meme and community-focused tokens that are gaining traction among both individual and institutional crypto investors.
*This is not investment advice.
