Dunamu Becomes First Korean Crypto Exchange Operator to Access Administrative Information Sharing System

On August 26, according to Yonhap News, Dunamu, the operator of South Korean crypto exchange Upbit, has been designated as an "agency for joint use of administrative information" by the Ministry of the Interior and Safety, becoming the first crypto exchange operator in South Korea to receive this qualification. The ministry completed on-site inspections and qualification reviews in May this year and made the designation decision this month.

Dunamu plans to use the system for user identity verification (KYC), reducing the process of users repeatedly submitting supporting documents by retrieving relevant administrative information, thereby improving the efficiency of account opening and account verification.

[TechFlow]