Upbit handles most active corporate and foreign crypto trading in South Korea

Corporate and foreign investor trading in South Korea’s virtual asset market is being conducted mostly through South Korean exchange Upbit, Monday Newspaper reported, citing data lawmaker Park Sang-hyuk of the ruling Democratic Party obtained from the Financial Supervisory Service. The report said more than half of the active corporate and foreign accounts and custodial assets registered across South Korea’s five largest exchanges — Upbit, Bithumb, Coinone, Korbit and Gopax — were concentrated at Upbit. A total of 6,590 corporate accounts were registered across the five exchanges, holding about 43.38 billion won ($32.5 million) in crypto assets. Of that, 27.08 billion won ($20.3 million), or 62.4%, was held on Upbit.