[Edaily Reporter PARK JONG-HWA ] KakaoBank Corp. and Coinone have agreed to extend their partnership for another year.

KakaoBank Corp. announced on the 19th that it has decided to extend its contract with the virtual asset exchange Coinone for real-name verified deposit and withdrawal account services—which was set to expire at the end of October—by one year. With the contract extension, Coinone customers can trade virtual assets on Coinone and deposit and withdraw Korean won through their KakaoBank Corp. accounts. Under current law, domestic virtual asset exchanges must enter into a real-name verified deposit and withdrawal account agreement with at least one bank to conduct won-denominated transactions.

KakaoBank Corp. and Coinone have been collaborating since 2022, including through their real-name verified deposit and withdrawal account service agreement. They have joined forces to strengthen transaction security by operating the industry’s first regular consultative body and establishing anti-money laundering (AML) systems and a fraud detection system (FDS). A KakaoBank Corp. spokesperson stated, “We will continue to foster a stable virtual asset trading environment based on close cooperation.”

Meanwhile, it is reported that Upbit and Kbank, as well as Bithumb and KB Kookmin Bank, are also prioritizing the extension of their real-name verified deposit and withdrawal account service agreements.