Over 70% of South Korea’s KBank deposits are related to cryptocurrencies

70% of the deposits of South Korean digital bank KBank are related to cryptocurrencies, of which Upbit uses KBank to verify customer identities and serve as an entry point. The regulator recommended a 5% cap on banks’ exposure to cryptocurrency companies, especially for digital banks. Li Fook-hyun, director of the Financial Regulatory Services Agency, said, "He will learn more about the situation and report to the Financial Services Commission. Due to the close dependence between the two, both banks and CEX are vulnerable to each other's problems. If KBank encounters problems, it may Impact on KBank customers."