Upbit holds 62.4% of corporate crypto assets in South Korea

Upbit held the largest share of corporate virtual assets and active corporate and foreign accounts among South Korea’s five largest exchanges. A report based on Financial Supervisory Service data said 27.08 billion won ($20.3 million), or 62.4%, of 43.38 billion won ($32.5 million) in assets across 6,590 corporate accounts was held on Upbit. Earlier figures reported by Maeilyo Newspaper put the total at 4.34 billion won ($3.2 million) and Upbit’s share at 2.71 billion won ($2 million), indicating a discrepancy between the reports. The earlier data also showed Upbit accounted for 22 of 29 corporate accounts with activity during the month and 41 of 292 verified foreign accounts with activity. The figures, obtained by Democratic Party lawmaker Park Sang-hyuk, come as South Korea tightens oversight of virtual-asset exchanges and considers gradually allowing won-based trading for listed companies and corporations registered as professional investors.

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