South Korea's Top Crypto Exchanges Break 6,000 Corporate Accounts

South Korea's five largest cryptocurrency exchanges have seen a significant increase in corporate accounts. The Financial Supervisory Service reported that there were 6,590 registered corporate accounts at the end of last month across Upbit, Bithumb, Coinone, Korbit, and Gopax. This marks a notable milestone as corporate accounts surpassed 6,000 for the first time.

Bithumb had the most registered corporate accounts with 3,280, followed by Upbit with 2,086. Dunamu, Upbit's operator, also led in verified accounts with 290. Only 711 of all corporate accounts (10.8%) had completed know-your-customer verification.

The total value of crypto assets held through domestic exchanges is approximately 4.34 billion won ($3.2 million). Upbit accounted for the largest share at about 2.71 billion won ($2 million), or 62.4% of the total. This is part of the financial authorities' roadmap for corporate participation in the virtual-asset market.