TechFlow reports, according to data released by the office of South Korean lawmaker Kim Joo-young, virtual asset exchange Korbit distributed deposit interest totaling 109.06 million KRW to 164,449 users on September 4, marking the first public disclosure of monthly deposit interest payments by an exchange since the implementation of South Korea's Virtual Asset Act. The average payout per user was 663 KRW.
Korbit stated it is currently maintaining an annualized interest rate of 2.5%. Notably, Korbit has shifted its interest rate adjustment cycle from quarterly to monthly. Industry experts suggest this change may aim to avoid excessive competition and regulatory intervention. The other four major Korean won-based exchanges, including Upbit and Bithumb, are set to distribute deposit interest for the first time next month, as they previously committed to quarterly payouts.
