Bithumb and Kookmin Bank Forge Alliance for Real-Name Accounts
CryptoNewsTerminal Staff13 Aug, 2024
Bithumb and Kookmin Bank Forge Alliance for Real-Name Accounts
Bithumb, a prominent South Korean cryptocurrency exchange, has joined forces with KB Kookmin Bank to establish a partnership for real-name verification and deposit and withdrawal accounts. This partnership is set to facilitate seamless transactions for Bithumb users, enabling them to deposit and withdraw South Korean Won (KRW) directly through their Kookmin Bank accounts. Once the partnership agreement is finalized following a thorough review by financial authorities, Bithumb users will gain the convenience of using their Kookmin Bank accounts for KRW deposits and withdrawals starting next month. Notably, this partnership marks a resumption of negotiations between Bithumb and Kookmin Bank, following a previous collaboration that fell through earlier this year. With the expiration of Bithumb's contract with NH Nonghyup Bank approaching in September, the exchange has successfully secured this new partnership with Kookmin Bank, a leading financial institution in South Korea. This partnership underscores Bithumb's commitment to providing a secure and compliant trading platform for its users.
