Bank account flows for South Korean crypto exchanges surge 40% since 2020 By Cointelegraph

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Bank account flows for South Korean crypto exchanges surge 40% since 2020

As cryptocurrency markets grew in the first quarter of 2021, South Korean banks saw record volumes of deposits and withdrawals to local crypto exchanges.

South Korean commercial banks processed 64.2 trillion won ($57.9 billion) of transactions on real-name bank accounts linked to crypto exchanges in Q1 2021, according to data from Financial Supervisory Service acquired by Democratic Party member Kim Byung-wook.