K Bank Extends Upbit Real-Name Account Partnership by One Year
Summary
- K Bank said it will extend its real-name deposit and withdrawal account partnership with cryptocurrency exchange Upbit by one year.
- The extension means the contract, which had been due to expire that day, will now continue through Oct. 5, 2027.
- The company said the agreement will automatically renew every year unless either side chooses to terminate it.
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K Bank will extend its real-name deposit and withdrawal account partnership with cryptocurrency exchange Upbit for one year.
Financial News reported on Oct. 5 that K Bank disclosed on Oct. 2 it had renewed its real-name deposit and withdrawal account partnership agreement with Dunamu, the operator of Upbit. The contract, which had been set to expire that day, will now remain in effect through Oct. 5, 2027.
K Bank said it would continue providing the related service after confirming that the Financial Intelligence Unit had accepted Dunamu's report as a virtual asset service provider.
K Bank provides real-name deposit and withdrawal accounts for won-denominated trading on Upbit. It is also responsible for the deposit, custody and management of customer funds.
The two companies have maintained the partnership since 2020. The latest contract will automatically renew in one-year increments unless either side indicates an intent to terminate it.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.