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‘Tectonic Shift’ as crypto exchange Bithumb seals KB banking deal

Bithumb has successfully secured a banking partnership with Kookmin Bank (KB), a prominent South Korean financial institution. This collaboration signifies a significant departure from previous arrangements, suggesting a MAJOR shift in how traditional banks view crypto exchanges as viable partners moving forward.

As part of this agreement, Bithumb plans to migrate its customer base from NongHyup Bank to KB beginning on February 24, 2025. KB’s focus on attracting younger demographics is crucial, given that over 50% of its users are aged between 20 and 39, an age group highly engaged in crypto activities.

This partnership could redefine the landscape for banking in the crypto space, showcasing banks’ willingness to adapt to financial innovation. Both Bithumb and KB will launch promotional efforts to integrate their customer bases effectively, marking a notable change in the banking strategy toward embracing cryptocurrency trading.

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