South Korean retail users are on the cusp of a major advancement in digital asset access, as Crypto.com prepares to launch its flagship mobile application in the country. This strategic move marks a pivotal moment for both the global crypto exchange and South Korea’s rapidly evolving Web3 ecosystem.
With over 80 million users worldwide, Crypto.com has built a reputation for robust security, regulatory compliance, and user-centric innovation. The upcoming rollout of the Crypto.com App in South Korea will empower local retail investors to trade more than 150 cryptocurrencies, access exclusive NFT drops, benefit from educational resources, and enjoy premium rewards—all through a secure, licensed platform.
A Regulated and Secure Entry into the Korean Market
The launch underscores Crypto.com’s commitment to operating within strict regulatory frameworks. South Korea has emerged as a leader in shaping responsible digital asset policies, and Crypto.com’s entry aligns with these high standards. The company has already secured critical registrations under the Electronic Financial Transaction Act (EFTA) and as a Virtual Asset Service Provider (VASP)—achievements reached in August 2022 that laid the groundwork for today’s consumer-facing launch.
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This regulatory readiness enables Crypto.com to offer Korean users a trusted environment where safety and transparency are prioritized. Features such as two-factor authentication, biometric login, cold storage protection, and real-time transaction monitoring ensure that user assets remain protected at all times.
Comprehensive Crypto Services Tailored for Korean Users
From day one, South Korean customers will gain access to a full suite of services via the Crypto.com App:
- Cryptocurrency trading across 150+ digital assets
- Access to Crypto.com NFT, featuring limited-edition drops and artist collaborations
- Educational content through Crypto.com University, helping users understand blockchain fundamentals, market trends, and safe investment practices
- Reward programs offering cashback, staking yields, and tier-based benefits
Patrick Yoon, General Manager of Crypto.com South Korea, emphasized the importance of localization:
“South Korean crypto enthusiasts are highly engaged with the market and eager for more comprehensive and regulated Web3 products and services. We spent significant time and resources tailoring our offering for this market and are honoured to be the first and largest global cryptocurrency exchange to launch in South Korea.”
This tailored approach reflects deep market research and strategic partnerships formed with key players in finance, entertainment, and technology—including ACT Games, A Story, LINE Xenesis, Studio Dragon, and Altava Group—aimed at driving blockchain adoption across gaming, digital fashion, and content creation.
Transition from OK-BIT to the Crypto.com App
As part of its market consolidation strategy, Crypto.com has announced the wind-down of services on its acquired platform, OK-BIT. All users were notified 30 days in advance that operations would cease on April 29, coinciding with the official launch of the Crypto.com App.
This transition ensures a seamless migration path for existing users while reinforcing Crypto.com’s position as a unified, globally integrated platform. Customers previously using OK-BIT are encouraged to migrate their accounts to benefit from enhanced features, broader asset selection, and improved customer support.
Strategic Partnerships Fueling Web3 Growth
Crypto.com’s presence in South Korea extends beyond trading. Its growing network of Memorandums of Understanding (MoUs) with industry leaders signals a long-term vision for ecosystem development:
- Collaboration with ACT Games to explore blockchain-based gaming experiences
- NFT initiatives with A Story and Studio Dragon, leveraging popular Korean entertainment IP
- Partnership with LINE Xenesis to expand crypto adoption across Asia-Pacific
- Innovation in digital fashion through Altava Group
These alliances demonstrate how cryptocurrency platforms can integrate with mainstream culture, creating new value streams for creators, brands, and consumers alike.
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FAQ: Your Questions About the Crypto.com App Launch in South Korea
Q: When will the Crypto.com App be available in South Korea?
A: The app officially launches on April 29, 2024, following the closure of OK-BIT services.
Q: Is the Crypto.com App compliant with South Korean regulations?
A: Yes. Crypto.com holds EFTA and VASP registrations, ensuring full compliance with local financial laws and anti-money laundering (AML) requirements.
Q: Can I trade Korean won (KRW) on the Crypto.com App?
A: Yes. The app supports KRW deposits and withdrawals, enabling seamless trading between fiat and digital currencies.
Q: What cryptocurrencies will be available?
A: Over 150 major and emerging cryptocurrencies will be accessible at launch, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and others.
Q: Will my data be protected under Korean privacy laws?
A: Absolutely. Crypto.com adheres to global data protection standards and operates in alignment with South Korea’s Personal Information Protection Act (PIPA).
Q: How do I prepare for the transition from OK-BIT?
A: Users should complete all pending transactions before April 29 and follow official migration instructions provided via email or in-app notifications.
A New Chapter for Crypto Adoption in Asia
Eric Anziani, President and COO of Crypto.com, highlighted the broader significance of this launch:
“We are incredibly excited to be launching the Crypto.com App for retail users in South Korea—a market of tremendous importance to the growth of our business, and one in which consumers are very interested in crypto. South Korean regulators are thoughtfully advancing the sector and we look forward to continuing to collaborate with them to help grow the industry responsibly.”
South Korea’s tech-savvy population and strong digital infrastructure make it an ideal hub for blockchain innovation. By launching a fully regulated app experience, Crypto.com is not only meeting consumer demand but also setting a benchmark for responsible expansion in regulated markets.
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As Web3 adoption accelerates across Asia, initiatives like this signal a maturing industry where security, compliance, and user empowerment go hand in hand. For South Korean users, the future of finance is now just a tap away.
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