Korea's Crypto Exchanges Hold 566k Foreign Accounts, Almost None Trade

Korea's crypto market has seen a significant number of foreign and corporate accounts registered at its exchanges, but actual trading activity is remarkably low. According to recent data, there are 566,352 foreign accounts and 6,590 corporate accounts across the country's five largest crypto exchanges.

The majority of these accounts belong to Bithumb, which has 484,846 foreign accounts and 3,280 corporate accounts. However, despite the large number of accounts, active trading is scarce, with only 29 corporate accounts and 90 foreign accounts used for actual trades last month.

The assets held in these accounts are substantial, with companies holding about 43.38 billion won in crypto assets, mostly through Upbit. Foreigners hold roughly 30.36 billion won in crypto assets and around 2.58 billion won in deposits.