Cryptocurrency exchange Coinone has extended its partnership with KakaoBank for real-name verification deposit and withdrawal accounts.
On August 19, Coinone announced that it has completed the renewal of its contract with KakaoBank for the issuance of real-name verification accounts. The renewal followed an on-site inspection that reviewed the adequacy of the anti-money laundering (AML) system, and the Financial Intelligence Unit (FIU) has also approved the necessary changes related to the renewal.
Coinone has maintained its relationship with KakaoBank since they first partnered in August 2022 for real-name verification accounts. The new contract extends the agreement for an additional year, until August 2027.
Both companies plan to expand their collaboration beyond real-name account partnerships to include service integration. Currently, the KakaoBank app offers a 'View My Virtual Assets' service, allowing users to check their cryptocurrency holdings with Coinone and access related services directly.
Coinone CEO Cha Myung-hoon stated, "We will do our utmost to create an environment where customers can trade with confidence, based on the long-standing partnership and operational expertise we have built with KakaoBank. We also aim to further expand the scope of our service collaboration between the two companies."
* This article has been translated by AI.
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