KB Kookmin, Bithumb Renew Partnership as Korean Banks Stick with Crypto Ties

KB Kookmin Bank and cryptocurrency exchange Bithumb have agreed to renew their partnership for another year, seeking approval from the Financial Intelligence Unit (FIU). The renewed contract will last through the end of September 2027. KB Kookmin's decision to extend its partnership with Bithumb suggests that banks and cryptocurrency exchanges in South Korea will largely maintain their existing structures this year.

The bank had seen a deposit growth effect from its partnership with Bithumb, with both demand deposits and Star Banking MAU increasing. In the first half of 2025, KB Kookmin's demand deposit balance stood at 176.8 trillion won ($128.1 billion), up 25.3 trillion won ($18.3 billion) from 151.5 trillion won ($109.8 billion) in 2024.

This growth is attributed to funds flowing through accounts linked to Bithumb since early last year. The partnership between KB Kookmin and Bithumb began when Bithumb switched its real-name account provider from NH NongHyup Bank to KB Kookmin on March 24, 2025.