Gopax Extends Real-Name Account Contract with Jeonbuk Bank

Partial Resolution of Uncertainty

Domestic virtual asset exchange Gopax has decided to extend its real-name verification account contract with Jeonbuk Bank.

According to the virtual asset industry on the 12th, Gopax recently signed a contract renewal for the real-name verification account with Jeonbuk Bank.

This means that Gopax's possibility of continuing its Korean won market business as a virtual asset exchange has increased.

The Act on Reporting and Using Specified Financial Transaction Information (the Specified Financial Transactions Act) stipulates that only virtual asset exchanges that have received a real-name account issuance confirmation from a bank can support Korean won transactions.

Gopax had been partnered with Jeonbuk Bank to obtain a real-name verification account, but as the contract period recently ended, uncertainties about the business itself had been raised.