KRW exchanges

South Korea

2026-08-10 02:09:51

South Korea's Financial Regulator: 394 Cryptocurrencies Delisted From KRW Exchanges Since 2022

According to data from South Korea's Financial Supervisory Service, 394 cryptocurrencies were delisted from Korean won-based virtual asset exchanges between 2022 and May 2026. Project risk was the most common reason, accounting for 155 cases. Investor protection risk followed at 108 cases, market risk at 56, technical risk at 50, and other risks at 25. The regulator's figures cover all won-denominated virtual asset trading platforms in the country.

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Upbit

2026-08-03 10:20:45

Upbit’s 67.4% share shows how tightly Korea’s crypto market is tied to retail anxiety

Upbit has tightened its grip on South Korea’s crypto market, with the article citing mid-2026 data showing the exchange holding a 67.4% share among the country’s five licensed KRW-based exchanges, far ahead of Bithumb’s roughly 27.1%. The piece argues that this dominance is not just a matter of platform design or brand recognition, but a product of South Korea’s market structure and retail psychology. According to the report, Upbit benefited from early backing tied to fintech company Dunamu, brand awareness linked to KakaoTalk, and deep banking integration with K-Bank that made KRW deposits and withdrawals easier for retail users. In a market shaped by strict real-name bank account rules and limited access to derivatives on compliant venues, liquidity has become the decisive advantage. That has left smaller exchanges such as Coinone, Korbit and Gopax with only marginal market shares. The article also connects Korea’s intense crypto participation to broader social pressure. High housing costs, youth unemployment and frustration over limited paths to upward mobility have pushed many younger investors toward volatile assets. In that setting, Upbit is portrayed as more than the largest exchange in the country: it functions as a barometer of local retail risk appetite, especially as capital rotates between stocks and crypto depending on where short-term returns appear stronger.

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