Bithumb Enhances KYC Services by Integrating Private Financial Platforms

Bithumb, one of South Korea's prominent cryptocurrency exchanges, announced on October 16th that it has expanded its Know Your Customer (KYC) verification services to include private financial applications, in addition to the government-approved platforms previously supported. This strategic move demonstrates the company’s ongoing commitment to streamlining user authentication processes while aligning with government-led digital innovation policies.

Aligning with Government Expansion of Mobile Identification

This development follows the South Korean Ministry of Interior and Safety’s initiative to broaden mobile identification services through private apps. The Ministry’s goal is to make digital identity verification more accessible and user-friendly, a direction that Bithumb has seamlessly embraced. By supporting both government-issued identification tools and private financial platforms, Bithumb is paving the way for improved flexibility and convenience in securing user accounts.

Currently, the exchange supports mobile identification cards and mobile driver’s licenses across various applications. The private platforms now enabled for mobile ID verification include major financial apps such as KakaoBank, Toss, Naver, KB Star Banking, NH All One Bank, Samsung Wallet, alongside government-designated solutions. For iOS users, Bithumb provides seamless compatibility with KakaoBank, Toss, and government-issued apps.

Enhanced KYC Integration for Improved User Experience

The latest update, rolled out on October 15th, offers users dual-channel authentication options, allowing them to utilize either private financial platforms or government apps when verifying their identity. This key upgrade enables authentication using mobile identification cards or driver’s licenses, effectively delivering on Bithumb’s focus to provide users with secure and hassle-free access.

A company spokesperson noted, “This expansion in mobile ID verification reflects our commitment to providing customers with a more seamless and secure authentication environment. We will continue to innovate in line with the government’s digital innovation policies to ensure safer and more convenient transactions for our customers.”

Supporting Seamless Transactions with Digital ID Innovations

Bithumb’s initiative is a noteworthy step in fostering trust within the cryptocurrency exchange industry. By integrating private financial platforms into its KYC process, the company sets a higher standard for user authentication while reinforcing the safety and integrity of its transaction ecosystem. Furthermore, this move showcases Bithumb's proactive alignment with evolving governmental policies, cementing its position as a forward-thinking leader in digital financial services.

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Related Updates

In addition to advancing its KYC services, Bithumb recently launched a 24/7 hotline for users of exclusive KB Kookmin Bank accounts, further expanding its customer-focused initiatives.