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Bank Account Data May Indicate a Rise in South Korean Crypto Activity
Summary: A new report has linked a spike in the creation of new bank accounts in South Korea to a rise in crypto trading, indicating that a large influx of new traders in the East Asian nation has taken up crypto in 2021. The three banks currently doing business with the “big four” exchanges have seen ...
A new report has linked a spike in the creation of new bank accounts in South Korea to a rise in crypto trading, indicating that a large influx of new traders in the East Asian nation has taken up crypto in 2021. The three banks currently doing business with the “big four” exchanges have seen business boom in the past few months.
Data from the financial sector that shows at least 280,000 new accounts were opened in January at K-Bank alone. By contrast, Newspim added, traditional banking giants Kookmin and KEB Hana – which do not currently provide crypto exchange-linked accounts – saw their own rates of new accounts created decrease by a collective 23.4% from 1.15 million in January 2020 last year to 880,000 in January this year.
By Amy Liu
Tags: Bank Account,Crypto,South Korean
Link: Bank Account Data May Indicate a Rise in South Korean Crypto Activity [Copy]
