Gate News reports that on March 28, the South Korean banking industry is intensifying its cooperation with cryptocurrency exchanges to address limited loan growth and seek new profit sources. Currently, several exchanges have established partnerships with K Bank, KB Kookmin Bank, KakaoBank, Shinhan Bank, and Jeonbuk Bank. Notably, there was an incident where 620,000 Bitcoins were mistakenly airdropped into user accounts, yet KB Kookmin Bank still decided to renew its contract with the exchange for another six months. Data shows that within three months of partnering with the exchange in March 2025, KB Kookmin Bank’s demand deposits increased by 3.2 trillion won (about 2.12 billion USD), with over 1.5 million linked accounts. The Financial Supervisory Service (FSS) of South Korea is currently seeking to expand its regulatory authority over cryptocurrency exchanges, and if the future regulation limiting each exchange to only one partner bank is relaxed, competition within the banking industry is expected to intensify further.
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