As of August 2021, Upbit was the largest cryptocurrency exchange in South Korea with deposits of around 43 trillion South Korean won. Bithumb followed with around 11.6 trillion South Korean won of deposits. Bitcoin and other cryptocurrencies are currently not considered legal tender or financial assets in South Korea, yet the market has grown extensively in the last few years.
Value of cryptocurrency exchange deposits in South Korea as of August 2021, by platform
(in trillion South Korean won)
*18 crypto exchanges that have acquired an Information Security Management System (ISMS) certificate as part of the registration process with the Financial Intelligence Unit, but have not been able to find a banking partnership to guarantee real-name bank accounts for their users.
Deposits include both South Korean won and cryptocurrency coins.
1,000 South Korean won equals 0.86 U.S. dollars or 0.73 euros as of September 2021.
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Hankyung. (September 22, 2021). Value of cryptocurrency exchange deposits in South Korea as of August 2021, by platform (in trillion South Korean won) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1265504/south-korea-crypto-exchange-deposits-by-platform-2021/
Hankyung. "Value of cryptocurrency exchange deposits in South Korea as of August 2021, by platform (in trillion South Korean won)." Chart. September 22, 2021. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1265504/south-korea-crypto-exchange-deposits-by-platform-2021/
Hankyung. (2021). Value of cryptocurrency exchange deposits in South Korea as of August 2021, by platform (in trillion South Korean won). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1265504/south-korea-crypto-exchange-deposits-by-platform-2021/
Hankyung. "Value of Cryptocurrency Exchange Deposits in South Korea as of August 2021, by Platform (in Trillion South Korean Won)." Statista, Statista Inc., 22 Sep 2021, https://www.statista.com/statistics/1265504/south-korea-crypto-exchange-deposits-by-platform-2021/
Hankyung, Value of cryptocurrency exchange deposits in South Korea as of August 2021, by platform (in trillion South Korean won) Statista, https://www.statista.com/statistics/1265504/south-korea-crypto-exchange-deposits-by-platform-2021/ (last visited November 21, 2024)
Value of cryptocurrency exchange deposits in South Korea as of August 2021, by platform (in trillion South Korean won) [Graph], Hankyung, September 22, 2021. [Online]. Available: https://www.statista.com/statistics/1265504/south-korea-crypto-exchange-deposits-by-platform-2021/
