KB Kookmin Bank Renews Bithumb Real-Name Account Partnership for Another Year

Applies for FIU approval for partnership renewal

Upbit-K Bank tie-up also expected to continue

KB Kookmin Bank will extend its real-name deposit and withdrawal account partnership with cryptocurrency exchange Bithumb for another year. The bank is expected to further step up its deposit-growth strategy through Bithumb-linked accounts.

According to financial industry officials on Sept. 7, KB Kookmin Bank recently agreed with Bithumb to extend their partnership contract by one year and has applied to the Financial Intelligence Unit for approval. If approved, the two sides will maintain the partnership through the end of September 2027.

Bithumb's Bitcoin overpayment incident earlier this year is seen as having had little impact on the partnership. After the incident, the two sides changed the contract term from one year to six months, prompting speculation that they might not renew the agreement.

KB Kookmin Bank is said to have decided to continue the partnership after concluding that its tie-up with Bithumb contributed to deposit growth. The bank's demand deposit balance stood at 176.8 trillion won ($130.1 billion) at the end of the first half of this year, up 25.3 trillion won ($18.6 billion) from 151.5 trillion won ($111.5 billion) at the end of 2024. Monthly active users of Star Banking, the bank's app, also rose to 14.06 million from 13.03 million during the same period.

The bank believes inflows from cryptocurrency investors since early last year had a positive effect. Bithumb switched its real-name account banking partner from NongHyup Bank to KB Kookmin Bank on March 24, 2025. New customers began flowing in from January 2025 after advance account registration started two months earlier.

With KB Kookmin Bank extending its contract with Bithumb, the close relationship between banks and cryptocurrency exchanges appears likely to remain in place. Last month, KakaoBank extended its partnership with Coinone by one year. K Bank is also discussing a contract renewal with Upbit, South Korea's largest cryptocurrency exchange. The two sides have maintained their partnership for a sixth straight year since 2020.

Kim Jin-seong, Hankyung.com reporter jskim1028@hankyung.com