Much of the K-Bank fee revenue comes from upbit-related firm banking, and about 30% of the total fee revenue depends on it. As the size of upbit deposits and user activities are closely linked to K-Bank’s monthly active user (MAU) flow, there are also concerns about the impact of virtual asset market volatility.
Na Min-wook, a researcher at DB Securities, said, “K-Bank’s commission profit is a structure that is largely generated from firmware banking related to the upbit of the virtual asset exchange,” adding, “The volatility of related profits can increase depending on the upbit transaction price and the size of deposits.” K-Bank has the potential to expand into a digital asset service banking platform such as stablecoins for corporations based on upbit alliances, said Baekdusan, a researcher at Korea Investment & Securities. “If the Basic Law on Digital Assets and the promotion of the stablecoins industry proceed at a pace, multiplexing is possible even with overhang risks.”
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