The virtual asset exchange Gopax successfully renewed its real-name verification deposit and withdrawal account contract with Jeonbuk Bank.
According to Gopax on the 9th, Jeonbuk Bank decided to extend the real-name account issuance contract with Gopax for an additional 9 months. According to the Specific Financial Information Act, domestic won virtual asset exchanges must receive real-name accounts from commercial banks to operate.
The two companies have built trust through years of collaboration since starting their partnership in 2022. Corporate virtual asset investments are expected to be permitted as early as the second half of this year, and rather than seeking new partners, they appear to have chosen to expand their market penetration with Jeonbuk Bank.
Gopax explained that Jeonbuk Bank reflects many of its positions when communicating with financial authorities and has demonstrated an active partnership. A Gopax official said, "Despite the Gopay debt risk, Jeonbuk Bank is actively assisting in normalizing its management, allowing us to use this as a stepping stone to prove our resilience as an exchange."