K Bank Extends Upbit Partnership Through 2027

K Bank has decided to extend its partnership with the cryptocurrency exchange Upbit for another year. The agreement, which was set to expire on October 5, 2024, will now continue through October 5, 2027. The renewal includes an automatic extension clause, meaning the contract will renew annually unless either party chooses to terminate it.

The partnership, which began in 2020, involves K Bank providing real-name deposit and withdrawal accounts for won-denominated trading on Upbit. The bank also handles the deposit, custody, and management of customer funds. K Bank confirmed the extension after the Financial Intelligence Unit accepted Dunamu's report as a virtual asset service provider.

Financial News reported on October 5 that K Bank disclosed the renewal on October 2. The extension ensures continued cooperation between the two companies, reinforcing their long-standing relationship in the digital asset space.