The Ethereum Rule Behind Upbit’s New MORPHO and EUL Won Markets

The Ethereum Rule Behind Upbit’s New MORPHO and EUL Won Markets


Skyline of Yeouido financial district in Seoul, South Korea image By Isaac • July 25, 2026 8:19 pm •

Upbit, South Korea’s largest crypto exchange, is adding MORPHO/KRW trading on July 25 and EUL/KRW trading on July 26, giving two decentralized-finance lending tokens direct Korean-won markets. The paired rollout carries one shared operational condition: deposits and withdrawals for both assets are supported only through Ethereum.

The exchange’s English notice schedules MORPHO trading for 18:00 Korea Standard Time on July 25. Current reporting places EUL trading at 12:00 Korea Standard Time on July 26, creating separate start times on consecutive days.

Trending: Ben & Jerry’s is so woke that the owners finally broke

Those announcements combine a trading decision with a transfer restriction, but the labels describe different layers. KRW is the quote currency for each market, while Ethereum is the sole blockchain route Upbit accepts for deposits

Continue reading

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!