The Era of Corporate Virtual Asset Investment Has Begun… Upbit, First in Korea to Support Trading

Dunamu, the operator of the South Korean cryptocurrency exchange Upbit, announced on the 1st that it has supported the sale of 0.55 Ethereum (ETH) held by the international humanitarian NGO World Vision.

World Vision linked its K Bank corporate account to its Upbit account and successfully sold Ethereum, received as donations, through the Upbit KRW market.

Pursuant to the "Roadmap for Corporate Participation in the Virtual Asset Market" jointly announced by the Financial Services Commission and related organizations last February, domestic nonprofit corporations and cryptocurrency exchanges that satisfy certain requirements are now able to trade virtual assets for the purpose of conversion to cash as of today. This transaction also took place under the backdrop of such regulatory improvements.

Dunamu plans to establish a culture of donating virtual assets by supporting nonprofits so that they can smoothly sell virtual assets received as donations. Currently, Dunamu is discussing ways to vitalize virtual asset sharing culture with organizations such as the Community Chest of Korea (Love's Fruit).

In addition, Dunamu intends to thoroughly prepare for the second phase of the "Roadmap for Corporate Participation in the Virtual Asset Market," which includes supporting market participation for "listed corporations and corporations registered as professional investors." According to the Financial Services Commission, issuance of real-name accounts for these corporations is expected to become possible in the second half of this year.