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Crypto Exchanges Cut Costs With Zero Fees and Paperless KYC
🇰🇷 South Korea /Technology

Crypto Exchanges Cut Costs With Zero Fees and Paperless KYC

From Dong-A Ilbo · () Korean

Translated from Korean and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources New plan
  • Korbit and Coinone have introduced zero trading fees across their Korean won markets, although their offers have different durations and conditions.
  • Upbit operator Dunamu became the first South Korean digital-asset exchange designated to use the government’s shared administrative information service.
  • Dunamu plans to use government-held data for customer verification, reducing the need for users to submit documents directly.

South Korean cryptocurrency exchanges are competing to make trading cheaper and customer verification less burdensome.

Korbit operator Digital X said it would waive trading fees for every asset in Korbit’s Korean won market for one year. The policy applies to orders executed from 9 a.m. on Aug. 24, 2026, through 9 a.m. on Aug. 24, 2027, without a separate application. Digital X said it prepared the offer to show responsibility toward users who had endured difficult market conditions. It also plans to work with Mirae Asset Group on new products and services.

Coinone introduced its own fee-free policy in stages. It first removed fees for trades made through personal open API keys on Aug. 21, then changed the fee rate for all assets to zero from 11 a.m. on Aug. 26. The offer will continue until further notice. Users can receive a fee-free voucher through Coinone’s website or app. Each voucher lasts 30 days and can be reissued without eligibility or usage limits.

We prepared the fee-free trading policy to show a responsible attitude toward users who have gone through difficult times in the market.

— Digital XThe operator explained why it introduced free trading on Korbit’s Korean won market.

Upbit operator Dunamu is taking a different approach. The Ministry of the Interior and Safety designated the company as an institution eligible to use its shared administrative information service after an on-site inspection in May. The designation marks the first such case among domestic digital-asset exchanges.

The service allows authorities to verify information through government computer networks instead of requiring users to obtain and submit documents themselves. Dunamu plans to use it for know-your-customer checks involving identity and transaction purpose. The company said the change should make verification faster, more convenient and more accurate. Users should note that Korbit’s offer lasts one year, while Coinone’s remains in place until further notice.

We are implementing the fee-free policy to ease customers’ fee burden and maximize benefits they can feel in practice.

— CoinoneCoinone described the purpose of its zero-fee trading offer.
About this summary

Originally published by Dong-A Ilbo in Korean. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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