Upbit, one of South Korea’s largest cryptocurrency exchanges, announced that it will list a Korean won trading pair for Morpho (MORPHO), giving users on the platform a direct fiat market for the token rather than requiring a crypto-to-crypto pair.

According to the exchange’s announcement, trading for the MORPHO/KRW pair is scheduled to begin on July 25, 2026, at 12:00 p.m. Turkish time. Upbit said deposits and withdrawals for MORPHO will be supported only through the Ethereum network, making the listed network a key operational detail for users moving tokens to or from the exchange.

The exchange also noted that transaction support may be delayed if sufficient liquidity is not available after deposit and withdrawal services begin.

Upbit outlined several temporary trading restrictions for the start of the listing. Buy orders will be limited during the first five minutes after trading opens. During the same initial period, sell orders placed at prices more than 10% below the previous day’s closing price will not be accepted. In addition, order types other than limit orders will be unavailable for approximately the first two hours of trading. Exchanges often apply opening-period controls on newly listed assets to manage early order-book conditions while trading activity forms.

Morpho, traded under the ticker MORPHO, is associated with the Ethereum ecosystem and decentralized lending markets, and Upbit’s notice specifies Ethereum as the only supported network for deposits and withdrawals at launch.