#Bithumb Changes Partner Bank#

South Korean cryptocurrency exchange Bithumb is applying to change its partner bank to KB Kookmin Bank. The Financial Intelligence Unit (FIU) of the Financial Services Commission of Korea recently received a report from Bithumb regarding the change of its real-name account issuing bank. If approved, customers trading cryptocurrencies on Bithumb will have to use Kookmin Bank accounts from March 24. Under current Korean law, domestic cryptocurrency exchanges operate under a "one company, one bank" principle, requiring platforms to establish real-name account partnerships with designated commercial banks to trade in Korean won. Bithumb has had a real-name account contract with Nonghyup Bank since 2018 and has been trying to change its partner bank since last year. This application to change partner banks may be Bithumb's decision to seek a more stable banking partnership and better meet user needs.