Bithumb Partners with Kookmin Bank Amid Zircuit Token’s 18% Surge
Highlights:
- Bithumb has partnered with Kookmin Bank to improve user services.
- Zircuit token gains 18% on Bithumb with a trading volume of $76 million in 24 hours.
- Bithumb ensures a smooth banking transition while boosting activity with Zircuit token airdrop rewards.
South Korea’s second largest crypto exchange Bithumb announced it had entered into a partnership with Kookmin Bank starting in March 2025. The partnership will replace its existing banking relationship with NH NongHyup Bank. The Financial Intelligence Unit (FIU) has approved the application by Bithumb to change its banking partner. This strategic move by Bithumb aims to attract new, younger members to the platform and increase its market share.
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South Korea's crypto exchange Bithumb is set to change its banking partner to KB Kookmin Bank. The Financial Intelligence Unit (FIU) has received Bithumb's request to update its real-name account provider. If approved, starting March 24, all Bithumb users must use KB accounts for… pic.twitter.com/oGuSV9Erm4
— ApolloPred Crypto (@ApolloPred_Coin) January 13, 2025
Bithumb will officially end its partnership with NongHyup Bank on March 23, 2025. By law, in South Korea, cryptocurrency exchanges have to select a partner bank for Korean-winning transactions. Following this transition, Kookmin Bank will provide deposit and withdrawal services for Bithumb users.
Kookmin Bank is one of the top four banks and provides a secure platform for transactions. This partnership, Bithumb explained, is in line with its ambition to offer a reliable service to its growing user base.
Transition Details for Bithumb Users
Starting March 24, 2025, at 11:00 AM KST, users must link their accounts with Kookmin Bank. After this date, users with NongHyup Bank accounts linked to the Bithumb platform will no longer be able to use their accounts.
On January 20, 2025, at 9:00 AM KST, Bithumb will begin pre-registration for account linking with Kookmin Bank. In a separate announcement, Bithumb will provide detailed instructions regarding the process. The exchange has assured that all users will experience a smooth and seamless transition. Lee Jae-won, the CEO of Bithumb, thanked NongHyup Bank for supporting the startup since 2018. During the transition to Kookmin Bank, he reassured users the services would not be disrupted.
Zircuit Token’s Promising Debut on Bithumb
Bithumb recently listed Zircuit’s native token, ZRC, and the market showed a positive response. After its debut, the value of the token surged by 18%, hitting $0.079. During the first 24 hours, trading volume for ZRC increased by 240% and amounted to $96 million. Currently, ZRC is trading at $0.06799 with a 0.10% gain in the past 24 hours.
Zircuit is an AI Powered Layer 2 network working towards efficient and secure decentralized applications. It is compatible with the Ethereum Virtual Machine (EVM) and therefore can be easily deployed in decentralized applications. Since its launch in November, ZRC has a market cap of $105 million. According to data by DeFiLlama, the network now has over $680 million of total value locked (TVL).
Arthur Hayes, co-founder of BitMEX, shared the listing event on X with the caption “Zoom zoom,” contributing to Zircuit’s market entry as excitement builds.
Zoom zoom https://t.co/12Zpf7sqx5
— Arthur Hayes (@CryptoHayes) January 13, 2025
Measures to Ensure Stable Trading
Bithumb has taken measures to manage the price volatility during the initial trading of ZRC. Bithumb limited price fluctuations to a -10% to +100% range in the first 5 minutes of trading. Users can deposit and withdraw ZRC only through officially recognized networks.
Meanwhile, Bithumb also launched a two-day airdrop event, rewarding 7,500,000 ZRC tokens to active traders. Users who actively trade ZRC during the event will be rewarded. Bithumb has warned its users against price manipulation and other fraudulent activities. Bithumb will penalize users who break the rules, including excluding them from the airdrop.
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Austin Mwendia
Austin Mwendia is a passionate crypto journalist with three years of experience. He has contributed to various media outlets, covering blockchain technology, market analysis, and financial trends. He is committed to educating readers and expanding the adoption of blockchain and decentralized finance.
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