KakaoBank Extends Real-Name Account Partnership with Coinone

KakaoBank has extended its real-name account partnership with Coinone for another year.

The agreement allows Coinone users to deposit and withdraw fiat currency using KakaoBank accounts, which are verified by identity.

This is crucial for Coinone as it needs a banking partner to operate legally in South Korea, where regulations require crypto exchanges to maintain such partnerships.

The partnership's continuation signals ongoing collaboration between traditional financial institutions and the crypto sector, despite regulatory challenges.