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Photo = Bithumb |
[Alpha Biz= Kim Sangjin] South Korea's second-largest cryptocurrency exchange, Bithumb, will be changing its real-name verification deposit and withdrawal service partnership from NH Nonghyup Bank to KB Kookmin Bank.
According to financial industry sources on Sunday, the Financial Intelligence Unit (FIU) of the Financial Services Commission recently approved Bithumb’s application for a change in its partner bank.
Starting from March 24, Bithumb users will need to use KB Kookmin Bank accounts for deposit and withdrawal transactions. Bithumb is expected to announce this change as early as the 13th.
Cryptocurrency exchange users are required to open a real-name verified deposit and withdrawal account at the partnered bank to trade cryptocurrencies in Korean won.
Earlier, financial authorities extended the partnership agreement between Bithumb and NH Nonghyup Bank by six months on September 24 last year. In an effort to expand its market share, Bithumb had been trying to change its banking partner.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
