Upbit Now Allows Identity Verification with Mobile Resident Registration Cards

Expansion of Verification Methods Beyond Driver’s Licenses

Digital asset exchange Upbit announced on the 5th that it has added the mobile resident registration card as a new know-your-customer (KYC) method, in addition to existing methods such as the physical resident registration card, physical driver’s license, and mobile driver’s license.

Foreign residents in Korea, who had previously been able to complete identity verification only with physical identification documents, can now verify their identity using a mobile alien registration card, mobile permanent resident card, and mobile domestic residence card for overseas Koreans with foreign nationality.

In May last year, Upbit became the first digital asset exchange in Korea to introduce the mobile driver’s license as an identity verification method. The company explained that this latest update is also a measure to strengthen KYC, and that it was pursued to enhance customer convenience as the number of mobile ID users has recently increased and it has become possible to issue mobile IDs through private applications.

According to Upbit, mobile IDs apply blockchain-based Decentralized Identity (DID) technology to reduce the risk of forgery and alteration, and enable real-time authenticity and validity checks, thereby offering high accuracy and security. Because they are stored in encrypted form in the secure area of the device and are not separately stored on a central server, the risk of personal information leakage due to hacking is also low.

Oh Kyungseok, CEO of Dunamu, said, "We have expanded mobile ID authentication so that customers can use our services more conveniently and safely," adding, "Upbit will continue to prioritize user protection and convenience, and will work to build a trustworthy trading environment."

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