South Korean cryptocurrency exchange Upbit has successfully facilitated the nation’s first legally sanctioned cryptocurrency transaction by a non-profit organization.
This development highlights the government’s ongoing efforts to attract corporate and institutional players to the digital asset space.
JUST IN: ????World Vision Korea becomes the first nonprofit to sell crypto in South Korea under the country’s new institutional trading rules.
The group sold 0.55 $ETH for approximately 1.98M won ($1,436) on Upbit, marking a milestone for charitable crypto adoption. pic.twitter.com/m0Axp5wqUR
— CryptosRus (@CryptosR_Us) June 2, 2025
According to Dunamu, the operator behind Upbit, the exchange supported World Vision, an international humanitarian NGO, in selling 0.55 Ethereum (ETH) valued at approximately ₩1.98 million through Upbit’s Korean won (KRW) market. The transaction was executed through a K-Bank corporate account, fully aligned with the new compliance requirements outlined under South Korea’s “Corporate Participation Roadmap for the Virtual Asset Market.”
This milestone follows a regulatory update from the Financial Services Commission (FSC) and related agencies, which officially permitted qualified non-profit organizations and crypto exchanges to liquidate digital assets as of June 1. The policy shift enables crypto-to-cash conversions for approved entities, provided they meet stringent verification and operational requirements.
Building on this regulatory breakthrough, Upbit said it remains committed to fostering a transparent and secure ecosystem for crypto-based donations. Dunamu further revealed an ongoing collaboration with organizations such as the Community Chest of Korea (Love Fruit) to promote the responsible use of digital assets in charitable campaigns.
Looking ahead, Dunamu confirmed it is preparing for the roadmap’s next phase, which will extend market participation to listed companies and registered professional investment corporations. According to the FSC, the rollout of real-name corporate accounts for these entities is scheduled for the second half of 2025.
Meanwhile, Dunamu’s financial performance reflects the broader momentum of the crypto market. The company reported a 70.5% increase in consolidated revenue for 2024, reaching KRW 1.73 trillion, up from KRW 1.01 trillion the previous year. Operating profit surged by 85.1% to KRW 1.18 trillion. In comparison, net income climbed 22.2% year-on-year to KRW 983.8 billion, a result the firm attributes to favourable market conditions and renewed investor interest, particularly driven by Bitcoin’s rally.
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