#Bithumb Bank Change#
Hot Topic Overview
Overview
South Korean cryptocurrency exchange Bithumb is applying to change its partner bank from Nonghyup Bank to KB Kookmin Bank. Korea's Financial Services Commission Financial Intelligence Unit (FIU) has accepted Bithumb's report to change the issuing bank for real-name accounts. If approved, customers trading cryptocurrencies on Bithumb will have to use Kookmin Bank accounts from March 24. According to Korean law, cryptocurrency exchanges must establish real-name account partnerships with designated commercial banks to trade Korean won. Bithumb has partnered with Nonghyup Bank since 2018, and has been trying to change its partner bank since last year.
Ace Hot Topic Analysis
Analysis
South Korean cryptocurrency exchange Bithumb is applying to change its partner bank to KB Kookmin Bank, and has submitted a report to the Financial Intelligence Unit (FIU) of the Financial Services Commission. If approved, Bithumb users will need to use Kookmin Bank accounts for cryptocurrency trading starting March 24. According to current South 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 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. This application to change banks indicates that Bithumb is actively seeking new partnerships to further enhance the platform's security, stability, and user experience.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bithumb is applying to change its partner bank from Nonghyup Bank to KB Kookmin Bank.
If the application is approved, Bithumb users will have to use Kookmin Bank accounts for cryptocurrency transactions from March 24th.
South Korea's cryptocurrency exchanges operate under a "one company, one bank" principle, requiring platforms to establish real-name account partnerships with designated commercial banks for Korean won transactions.
Bithumb signed a real-name account contract with Nonghyup Bank in 2018 and has been trying to change its partner bank since last year.