Data the Financial Supervisory Service sent to the National Assembly’s Political Affairs Committee showed 6,590 corporate accounts were registered at South Korea’s five biggest virtual asset exchanges as of the end of July. Yonhap News said the exchanges in the data were Upbit, Bithumb, Coinone, Digital Asset Exchange, and Gopax.
Most corporate accounts were concentrated at Bithumb and Upbit
Broken down by exchange, Bithumb had the biggest count of registered corporate accounts with 3,280. Accounts tied to Dunamu, which operates Upbit, came to 2,086. Put together, those two exchanges made up 5,366 corporate accounts, or 81.4% of the total.
As for the rest, Korbit had 620 accounts, Coinone had 539, and Gopax had 65.
KYC-completed corporate accounts accounted for 10.8%
On the compliance front, 711 corporate accounts had finished know-your-customer, or KYC, verification. That was 10.8% of all corporate accounts.
Upbit posted the highest number of KYC-completed corporate accounts at 290. Bithumb was next with 199. Korbit had 184. Coinone and Gopax had 33 and 5, respectively.
Corporate virtual asset holdings totaled about 43.377 billion won
Corporate accounts held about 43.377 billion won, or around $31.2 million, in virtual assets. Upbit held the biggest share at about 27.08 billion won, equal to 62.4% of the total. Bithumb held about 6.29 billion won. Coinone, 5.15 billion won.
Deposits in corporate accounts totaled about 9.13 billion won.