2023.03.16
Bithumb Finalizing Contract Extension Talks with NH Bank
Bithumb is finalizing talks with NH Bank to renew its contract for providing real-name account services. Bithumb was reportedly in talks with a new partner, Kakao Bank, to provide such services. However, Kakao Bank was reluctant to enter into such an agreement due to the legal risks involved. Kakao Bank has already signed an agreement with the third largest exchange in Korea, Coinone, in November of last year. Providing real-name accounts to two different exchanges would expose Kakao Bank to heightened legal and regulatory risk regarding AML monitoring.
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