Leading South Korea-based Cryptocurrency Exchange Upbit announced that it will fully terminate trading support for digital assets NEM (XEM) and Stormx (STMX) on July 3, 2025.
Upbit ends NEM (XEM) and Stormx (STMX) trading support
This decision is based on a comprehensive assessment after previous placement of both crypto assets under investment alert status.
Xem and STMX will be discontinued on July 3rd
According to the statement, XEM and STMX pairs (XEM/KRW, XEM/BTC, STMX/KRW, STMX/BTC) will not be able to trade on the Upbit platform as of 15:00 on Thursday, 03-07-2025. Buy and sell your order until this date is automatically cancelled.
Why are they removed from the operation?
Upbit said the decision to terminate NEM’s trading support was made due to lack of transparency, lack of community participation and uncertainty regarding the sustainability of the project. Similarly, Stormx cited reasons to remove transaction support as it provides necessary notifications by projects, lack of transparent processes for structural change, and the inability to question the sustainability of its business model.
Both assets were listed on the Investment Alerts list on May 19, 2025. Upbit has announced that it has been monitoring the project since this date and has decided to end transaction support, stating that it has not made necessary improvements.
After transaction support ends, users may withdraw XEM and STMX balances from the exchange until August 4, 2025. Upbit warned users to withdraw assets in a timely manner, saying transactions after this date can take a long time for technical reasons.
*This is not investment advice.
Discover more from Earlybirds Invest
Subscribe to get the latest posts sent to your email.
