Bithumb Raises KRW Deposit Interest Rate to 4% Per Annum

Industry Best... Effective from July 24

Bithumb announced on the 23rd that it will raise the customer KRW deposit usage fee to an industry-leading annual rate of 4.0%.

The annual 4.0% usage fee rate consists of 2.0% interest generated from management and operation by its partner bank, NH Nonghyup Bank, plus an additional 2.0% paid by Bithumb.

This is double the initially announced 2.0% on the 19th and 1.8 percentage points higher than the revised 2.2% rate.

The increased KRW deposit usage fee rate will be applied starting from the 24th of this month, and until the 23rd, the existing 2.2% annual rate will be accrued. The deposit calculation standard remains the same, based on the KRW balance at 23:59:59 daily.

Jaewon Lee, CEO of Bithumb, stated, "This increase in the KRW deposit usage fee rate is not about competition with other exchanges but follows our company’s policy and stance to strengthen customer-centered benefits. As this is a promise made to our customers, we will do our utmost to faithfully fulfill it."