The institutionalization of the Korean crypto market accelerates: the top 5 exchanges have 6590 corporate accounts, Bithumb accounts for nearly half

Comparative news, according to Yonhap News Agency, Korea's Financial Supervisory Service submitted data to the South Korean National Assembly Government Affairs Committee, revealing that as of the end of July, there were 6590 registered corporate accounts on Korea's top five virtual asset exchanges (Upbit, Bithumb, Coinone, Digital Asset Exchange, Gopax).

In terms of exchange distribution, Bithumb has the highest number of registered corporate accounts, reaching 3,280; Upbit operator Dunamu has 2,086 accounts. The two major exchanges had a total of 5,366 corporate accounts, accounting for 81.4% of the total. Additionally, Korbit has 620, Coinone has 539, and Gopax has 65.

Judging from the compliance situation, there are a total of 711 corporate accounts that have completed customer identity verification (KYC), accounting for 10.8% of all corporate accounts. Among them, Upbit has the most, 290; Bithumb has 199, Korbit has 184, and Coinone and Gopax have 33 and 5, respectively. In terms of virtual asset holdings, Korean corporate accounts are about 43.377 billion won (about 31.2 million US dollars), of which the Upbit platform accounts for the highest share, with a holding scale of about 27.08 billion won, accounting for 62.4% of the total; Bithumb is about 6.29 billion won, and Coinone is about 5.15 billion won. The corporate account deposit amount is approximately KRW 9.13 billion.