KakaoBank Partners with Coinone for Real-Time Crypto Price Tracking in App
KakaoBank, a South Korean digital bank with over 22 million users, has partnered with the crypto exchange Coinone to integrate real-time cryptocurrency price tracking within its app. This new feature allows users to monitor Bitcoin, Ethereum, and other cryptocurrencies by their transaction volumes, market capitalization, and price changes. This partnership continues the collaboration between KakaoBank and Coinone, which began in 2022 when KakaoBank enabled its users to open deposit and withdrawal accounts for cryptocurrencies through Coinone. Despite facing regulatory scrutiny from South Korea’s financial authorities in late 2024 due to unusual price movements of certain tokens, Coinone continues to expand its services. This development is significant for crypto traders in South Korea as it enhances accessibility and convenience in tracking crypto market prices directly through their mobile banking application.
Neutral
The partnership between KakaoBank and Coinone signals enhanced convenience for users by integrating crypto market data directly into a widely used mobile banking app. While this enhancement might reflect positive sentiments among users and could gradually increase user engagement with cryptocurrencies, the news does not inherently suggest a significant market shift or immediate price impact on cryptocurrencies like Bitcoin or Ethereum. The history of regulatory track records concerning Coinone might hold back any outright bullish momentum, leading to a more neutral impact assessment for market volatility and prices in the short term.