Partnership with 4 major cryptocurrency exchanges
Shinhan, Nonghyup, and K-bank account surge
Yellen warns of bitcoin craze
The number of new personal accounts opened by three banks, including Nonghyup Bank, Shinhan Bank, and K Bank, surged by more than 30% last month. In order to buy and sell bitcoins at four major domestic cryptocurrency (virtual currency) exchanges such as Bithumb UpBit Coin One, Corbit, you must have an account with these banks. The analysis of the financial sector is that this is because the number of individuals who newly started investing in cryptocurrency has increased significantly as the price of bitcoin soared close to 60% this year.
According to the banknote on the 19th, the number of accounts newly opened by individuals at Nonghyup Bank and Shinhan Bank K Bank, which provide real-name accounts to major domestic cryptocurrency exchanges, was 1.4 million, an increase of 30.8% from the same period last year (107 million).
Nonghyup Bank is partnering with Bithumb, the No. 1 market share based on domestic bitcoin transaction volume, and Coinone, the 3rd place. K-Bank and Shinhan Bank support real-name accounts of 2nd place Upbit and 4th place Kobit, respectively.
Hana Bank Kookmin Bank Woori Bank’s new account openings, which are not affiliated with the four cryptocurrency exchanges, decreased by 30.3% from 1.45 million in January of last year to 1.10 million in January of this year. The number of new accounts opened by banks that support cryptocurrency transactions is increasing this month. An official from the financial sector explained, “The increase in new accounts only at banks that can transact cryptocurrency means that individuals are engaged in cryptocurrency investments such as bitcoin.”
Recently, the price of bitcoin has skyrocketed as the mass purchase of American electric vehicle company Tesla and investment from global financial companies continue. According to Bithumb, the price of bitcoin from 31.9 million won at the beginning of the year has risen to 57.8 million won as of 4 pm on this day.
In the cryptocurrency industry, it is predicted that the’warning’ of US Treasury Secretary Janet Yellen could lead to bitcoin regulation and act as a negative factor. Minister Yellen said on the 18th (local time), “The action on bitcoin, a highly speculative asset, should be aimed at protecting investors.”
Reporter Daehoon Kim/Jinwoo Park [email protected]
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