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TechFlow reports that South Korean cryptocurrency exchange Bithumb has signed an agreement with local financial institution Nonghyup Bank to manage deposit funds from exchange users as risk-free assets, aiming to distribute digital asset deposit management profits back to users.
The collaboration is intended to prepare for compliance with the Virtual Asset User Protection Act, set to be enacted on July 19.
South Korean cryptocurrency exchange Bithumb announced it has signed an agreement with local financial institution Nonghyup Bank to manage users' deposits as risk-free assets, aiming to distribute digital asset deposit management profits to users. This collaboration is part of preparations to comply with the Virtual Asset User Protection Act, set to be enacted on July 19.
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