Coinone Introduces KakaoBank Authentication... Registration Time Reduced to 3 Minutes

Average Duration Reduced from 8 Minutes to 3 Minutes

Coinone, a leading domestic specialized virtual asset exchange, announced on the 27th that it has simplified the customer verification and account linking process by introducing KakaoBank authentication.

The newly introduced KakaoBank authentication is used for customer verification and account linking for exchange use. In the customer verification stage, among the existing four-step process (mobile phone authentication → ID authentication → 1 KRW account authentication → detailed information input), 'mobile phone authentication' and '1 KRW account authentication' are replaced by KakaoBank combined authentication.

Additionally, the '1 KRW account authentication' and 'ARS authentication' required for linking the exchange's KRW deposit and withdrawal account can also be replaced by electronic signature via the KakaoBank app.

The time required from customer verification to account linking has been reduced by more than half. According to the company, using KakaoBank authentication allows the two processes, which previously took about 8 minutes on average, to be completed within 3 minutes.

Cha Myung-hoon, CEO of Coinone, stated, “We expect that the introduction of KakaoBank authentication will greatly enhance customer convenience from initial membership registration to the trading preparation stage,” and added, “Based on cooperation with KakaoBank, a partner bank for real-name verification accounts, we will provide industry-leading accessibility to trading services.”