#Bithumb Changes Partner Bank#

South Korean cryptocurrency exchange Bithumb is applying to change its partner bank to KB Kookmin Bank, a move that has attracted attention from the industry. Under current South Korean law, local cryptocurrency exchanges operate under the "one company, one bank" principle, requiring platforms to establish real-name account partnerships with designated commercial banks to trade Korean won. Bithumb signed a real-name account contract with Nonghyup Bank in 2018, but has been trying to change its partner bank since last year. The report applying to change the partner bank has been accepted by the Financial Intelligence Unit (FIU) of the Financial Services Commission. If approved, customers trading cryptocurrencies on Bithumb will have to use Kookmin Bank accounts from March 24th. The reason for Bithumb's change of partner bank is unclear, but industry insiders speculate that it may be due to Nonghyup Bank's conservative attitude towards cryptocurrency trading, while Kookmin Bank is more open to the cryptocurrency industry. This change of partner bank also reflects the development trend of the South Korean cryptocurrency industry, with more and more banks entering the cryptocurrency field to provide more convenient services for cryptocurrency trading.