Upbit Dominates Corporate and Foreign User Accounts in South Korea

South Korean cryptocurrency exchange Upbit has taken the lead in corporate and foreign user accounts among its peers, according to data from the Financial Supervisory Service. A total of 6,590 corporate accounts were registered across the country's five largest exchanges, with Upbit holding a significant share of 62.4% or 2.71 billion won ($2 million) in virtual assets.

The Maeilyo Newspaper reported that Bithumb followed closely behind with 629.7 million won ($462,000), while Coinone had 514.7 million won ($378,000), Gopax had 308.3 million won ($226,000), and Korbit had 177.2 million won ($130,000) in corporate assets.

Upbit also dominated the number of actively used foreign accounts, with 292 verified users and 41 recording actual trading or other activity last month. In contrast, Bithumb had over 484,000 registered foreign accounts but none of them completed KYC verification or recorded any transactions.