Costs, licensing, consumer protection Privacy, self-custody, censorship resistance
A D Regional Crypto Exchanges

Upbit

Upbit

Dunamu Inc.

Status
Private company
Legal HQ
South Korea
Founded
2017
Corporate site
dunamu.com
Valuation
$10.2B
Latest round
Hana Bank acquisizione 6,55% per ~$670M (mag 2026); precedente fusione annunciata con Naver Financial (~$10B, nov 2025)

Main investors / shareholders

  • Song Chi-hyung (founder, ~25,5%) · Other
  • Kim Hyoung-nyon (co-founder, ~13,1%) · Other
  • Woori Technology Investment (~7,2%) · Other
  • Hana Bank (~6,55%) · Other
  • Kakao Investment · Other
  • Samsung (Securities/SDS/Card, ~4%) · Other
  • Qualcomm Ventures · Other
  • Naver Financial · Other

Upbit is operated by Dunamu Inc., a private company headquartered in Seoul (founded 2012), not publicly listed. Valuation ~$10.2bn (May 2026). Largest shareholders are the two co-founders (Song Chi-hyung ~25.5%, Kim Hyoung-nyon ~13.1%); Korean institutional investors include Woori Technology Investment, Hana Bank, Kakao and Samsung, plus Qualcomm Ventures. In November 2025 a merger with Naver Financial (~$10bn) was announced.
4.3/5 0.9/5 · Data verified on

Upbit is the dominant exchange in South Korea, with about 71.6% market share, flat 0.05% fees, ISMS certification and real-name verification via K-Bank. It is restricted to the Korean market and KRW trading, however, and does not offer derivatives due to local regulation.

Visit official website ↗
61
Transparency: Medium
61/100 · see methodology
61
Data exposure: Medium
61/100 · lower is better for sovereignty · methodology

Data & conditions

Maker / Taker fee 0.25% / 0.25%
Markets Spot
Max leverage 1×
Supported assets 250+
Trading pairs 200+
24h volume $2B
Fiat on-ramp Yes
Deposit methods KRW bank transfer (K-Bank real-name account), KakaoPay, Crypto deposit
Geo restrictions USA, Italy, EU (non-Korean residents), OFAC-sanctioned countries, FATF black/grey list countries
Staking / Earn Staking available
Fund custody Custodial (platform holds funds)
KYC Full
Supported countries APAC · 1+ countries
Regulator FSS
OAM Italy registration No
Segment B2C
MiCA / License status VASP Korea FSC Corea del Sud; ISMS

Strengths

  • 71,6% market share Korea; fee 0,05% flat; ISMS certified; K-Bank real-name.
  • No notable sovereignty advantage documented.

Weaknesses

  • Only Korea/KRW; no derivatives; barrier to entry high.
  • Custodial: the platform holds your funds and can freeze or lose them.
  • Full KYC required: verified identity, zero pseudonymity.
  • Subject to regulation (FSC Corea del Sud; ISMS): reporting to authorities and freezes on order.
  • Geographic restrictions (USA, Italy, EU (non-Korean residents), OFAC-sanctioned countries, FATF black/grey list countries).

Verdict

A D ★ 4.3/5 ★ 0.9/5

The category's top rating is deserved on the protection lens: Upbit dominates South Korea with about 71.6% market share, charges flat and very low 0.05% fees, holds ISMS certification and uses real-name verification via K-Bank. The limits are about scope: Korean market in KRW only, no derivatives due to local regulation, a high barrier to entry and no access from Italy.

On the sovereign axis Upbit sits at the opposite pole: real-name verification via K-Bank and a low privacy score make it one of the most identity-bound exchanges on the list, the opposite of anonymity. It is custodial with stringent KYC, no self-custody and no censorship resistance — what makes it a protection champion makes it, here, one of the least sovereign choices.

Privacy & anonymity 30% 0.5
Fund control 20% 0.0
Censorship resistance 20% 1.5
Costs 10% 2.5

Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.

"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.

FAQ

What are Upbit's fees?

On Upbit, spot fees are maker 0.25% / taker 0.25%. They drop with monthly volume and VIP tier.

Is Upbit regulated in Europe?

Regulatory status of Upbit: FSC Corea del Sud; ISMS. Licence: VASP Korea (KR).

Does Upbit publish Proof of Reserves?

Proof of Reserves publication is not documented for Upbit. No third-party reserve audit is documented. Reserve transparency is a critical factor after the FTX collapse.

Can I send transfers to third-party IBANs from Upbit?

No, Upbit is an exchange and does not allow transfers to third-party IBANs: fiat withdrawals return to a bank account in your own name.

Does Upbit support derivatives and futures?

Upbit does not offer derivatives: it focuses on spot trading.

Sources

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Update history

✓ Terms unchanged since Jun 1, 2026

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