Coinone to Fully Switch KRW Deposits and Withdrawals to KakaoBank Starting from the 29th

Pre-registration Period Operated for Two Weeks from the 15th of This Month
NH Nonghyup Bank KRW Deposits and Withdrawals End by the 28th

[Asia Economy Reporter Ji Yeon-jin] Virtual asset exchange Coinone (CEO Cha Myung-hoon) announced on the 8th that it will switch its Korean won deposit and withdrawal bank to KakaoBank starting from the 29th of this month.

Coinone will begin Korean won deposit and withdrawal services with KakaoBank from 11 a.m. on the 29th of this month. Due to the bank switch, the existing Korean won deposit and withdrawal services with NH Nonghyup Bank will end on the 28th of the same month.

Prior to launching the KakaoBank Korean won deposit and withdrawal service, Coinone will operate a pre-registration period for two weeks from midnight on the 15th to 9 p.m. on the 28th of this month. Domestic individual members of Coinone must complete KakaoBank account verification on the pre-registration page.

During the pre-registration period, Coinone customers can choose to agree or refuse the switch to KakaoBank. Customers who agree to the switch and complete KakaoBank account pre-registration will be able to use virtual asset buying and selling and other services normally, excluding Korean won deposits and withdrawals, from the time the suspension and maintenance before the KakaoBank Korean won deposit and withdrawal service opening is completed. From the time the KakaoBank Korean won deposit and withdrawal service opens, all Coinone services can be used without restrictions.

On the other hand, customers who refuse the switch or do not respond will face service usage restrictions after the pre-registration period. Korean won assets of customers who refuse the switch during the pre-registration period will be sequentially withdrawn to the NH Nonghyup Bank account they registered within 48 hours. Additionally, if customers do not respond during the pre-registration period and refuse the switch after the 29th, withdrawals will be made sequentially according to the twice-monthly withdrawal cycle.

Even if customers refuse the switch during the pre-registration period, they can immediately use normal services by registering a KakaoBank account afterward. However, if they did not respond during the period, service use will be available from 11 a.m. on the next business day after account registration.

This content was produced with the assistance of AI translation services.