Upbit Expands Offerings with Block Street Token
Effective August 7, Upbit, a leading cryptocurrency exchange, will expand its offerings by introducing the Block Street (BSB) token in three trading pairs: Korean won (KRW), Bitcoin (BTC), and Tether (USDT). The trading launch is scheduled for 3:00 p.m. Korea Standard Time, accompanied by the provision that initially, only Ethereum will be accepted for deposits and withdrawals.
Trading Restrictions and Cautions
In its announcement, Upbit cautioned that trading commencement might be postponed if the necessary liquidity is not achieved. Users are urged to take care when transferring BSB, ensuring they use the correct Ethereum network; deposits made via unsupported networks could experience significant delays in being returned to their original source.
To manage the launch effectively, Upbit is implementing several trading restrictions. For instance, users won’t be able to place buy orders for the first five minutes after trading opens. Similarly, sell orders priced more than 10% below the previous day’s closing price will not be permitted during this initial period. Furthermore, only limit orders will be allowed for approximately two hours post-launch.
Pricing and Contract Information
Before trading begins, the last known closing price for BSB was 211.09 KRW, while the reference price at 11:45 a.m. KST on the same day was reported at 222.34 KRW. However, these figures should not be interpreted as reflective of market response following the token’s listing.
The Ethereum contract address for BSB is identified as 0xdb6ba5d510f114f9b2ea08bea7d30e32eee33411, and users are reminded to confirm its accuracy before engaging in any deposit or withdrawal transactions. Upbit’s approach mirrors that of previous token listings, such as Derive’s DRV, which also faced temporary trading safeguards upon its introduction.
About Block Street and BSB Token
Block Street, the entity behind BSB, presents itself as an infrastructure provider specialized in on-chain capital markets that focus on tokenized equities and real-world assets. Its architecture aims to unify liquidity across various platforms, blockchains, and trading venues, branding this as a “Unified Liquidity Layer.” With functionalities designed to bolster execution and capital efficiency for tokenized assets, the protocol also supports borrowing, margin trading, hedging, and arbitrage processes.
BSB is classified as both a utility and governance token within Block Street’s ecosystem. Token holders are given the opportunity to participate in governance, staking, and receive various incentives. The maximum supply of BSB is capped at 1 billion tokens, with 207.75 million (representing approximately 20.775% of the total supply) expected to be available during the token generation event.
Funding and Market Trends
In a move to fund its infrastructure, Block Street secured $11.5 million in strategic investment during a funding round in October 2025. The round was led by Hack VC, with contributions from Generative Venture, DWF Labs, StudioB, and Bridge34.
Amid a growing trend in the market for tokenized equities, the increase in these activities reflects wider acceptance from both cryptocurrency ventures and traditional market players seeking blockchain-based stock solutions.
Conclusion and User Guidelines
The critical moment for observers will be Upbit’s planned trading kickoff at 3:00 p.m. KST on August 7, although this is contingent upon achieving necessary liquidity levels. Following the initial restrictions, Upbit intends to gradually lift these limitations, first easing the five-minute restrictions on buy orders and low-price sell orders, with the limit order-only policy lasting for a minimum of two hours.
As a reminder, users must conduct transactions strictly within the Ethereum network as stipulated by Upbit, despite Block Street also operating on networks like BNB Chain. It will be crucial for users to adhere to this guideline to ensure the successful processing of their transactions, as transfers via unsupported networks may not receive automatic credits.
