K Bank Supports South Korea's First Corporate Virtual Asset Transaction

World Vision Completes South Korea's First Corporate-Named Virtual Asset Transaction on Upbit

K Bank announced on June 2 that, together with the virtual asset exchange Upbit, it has supported the first corporate-named virtual asset transaction in South Korea.

The social welfare foundation World Vision successfully completed the entire transaction process, including opening a corporate account at K Bank, linking a real-name account with Upbit on June 1, selling virtual assets, and withdrawing cash.

During the process of linking real-name accounts with Upbit, K Bank conducted a review in accordance with the "Guidelines for Non-Profit Organizations on Virtual Asset Liquidation" and approved the linkage. The bank also checked whether internal control standards and all other requirements were met according to the guidelines for non-profit organizations on virtual asset liquidation.

A K Bank official stated, "As a key partner in the virtual asset industry, we plan to consider expanding into various virtual asset-related businesses in the future, including custody services."

Meanwhile, K Bank has been providing corporate account opening services since 2018. As of the first quarter of this year, the cumulative number of opened accounts surpassed 7,300. Since 2023, the bank has also proactively supported the opening of corporate accounts required for virtual asset transactions for the recovery of national funds by government agencies such as the prosecution and the National Tax Service.

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