South Korea’s Bithumb Continues Partnership with Nonghyup Bank for Real-Name Account Issuance

Bithumb, one of the top two crypto asset exchanges in South Korea, has announced the extension of its real-name confirmation deposit and withdrawal service partnership agreement with Nonghyup Bank for another year. The partnership agreement enables Bithumb to continue to provide its customers with the ability to trade crypto assets through their existing accounts.

Bithumb customers will be able to use the service through their existing accounts as the renewal of the contract with Nonghyup Bank for real-name account issuance is in its final stages. The formal contract is expected to be signed before March 24, when the contract expires.

According to Bithumb and Nonghyup Bank, the partnership has been in place for the past five years, during which they have worked together to strengthen the anti-money laundering system and provide stable services.

Bithumb has been taking steps to improve investor convenience and secure stability. For instance, the user interface of the Bithumb app was significantly improved at the end of last year to improve usability. Additionally, the FDS system was upgraded early this year to prevent voice phishing and hacking in advance, and market disruption through abnormal transactions was blocked.

Bithumb also provides educational materials for investor protection, precautions for trading, and types of fraud through its Customer Support Center website. The exchange plans to introduce more content this year, such as conducting ‘visiting education’ that educates on the prevention of financial fraud and the basics of crypto assets.

An official from Bithumb said, “We will finalize the renewal of the real-name account with Nonghyup next week, and we will continue to do our best to create an environment where customers can trade safely and conveniently.”

The extension of the partnership agreement between Bithumb and Nonghyup Bank is expected to enhance customer confidence and trust in Bithumb’s ability to provide a secure and stable trading environment.

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