Coinone Introduces Kakao Bank Authentication…"Simplifying Customer Verification Process"

Coinone, a domestic virtual asset (cryptocurrency) exchange, announced on the 27th that it has introduced Kakao Bank authentication to simplify the customer verification and account linking process. The aim is to significantly reduce the time required for authentication, thereby enhancing the accessibility of exchange services to the highest level in the industry.

The newly introduced Kakao Bank authentication is utilized in customer verification and account linking for exchange use. In the customer verification stage, 'mobile phone authentication' and '1 KRW account authentication' are replaced with Kakao Bank combined authentication. Additionally, the '1 KRW account authentication' and 'ARS authentication' required for linking KRW deposit and withdrawal accounts on the exchange can be replaced at once with an electronic signature via the Kakao Bank app.

According to Coinone, the introduction of Kakao Bank authentication has reduced the average authentication process time from about 8 minutes to within 3 minutes.

Cha Myung-hoon, CEO of Coinone, stated, "We expect that the introduction of Kakao Bank authentication will maximize customer convenience from the initial membership registration to the transaction preparation stage," adding, "Based on the cooperation with Kakao Bank, our real-name account partner bank, we will provide the highest level of transaction service accessibility in the industry."