Domestic virtual asset exchange Coinone announced on the 27th that it has simplified the customer verification and account linking process by introducing Kakao Bank authentication. The goal is to drastically shorten the authentication time and raise the accessibility of exchange services to the highest level in the industry.
The newly introduced Kakao Bank authentication is used for customer verification and account linking for exchange use. In the customer verification stage, the existing 4-step authentication process (mobile phone → ID card → 1 won account ► detailed information) replaces ‘mobile phone authentication’ and ‘1 won account authentication’ with Kakao Bank combined authentication. The 1 won account authentication and ‘ARS authentication’ required for linking the exchange KRW deposit/withdrawal account can also be replaced with the Kakao Bank app electronic signature.
With this simplified authentication process, the time required from customer verification to account linking has been reduced by more than half. With Kakao Bank authentication, the two processes that took an average of 8 minutes can now be completed in less than 3 minutes.
Coinone CEO Cha Myung-hoon said, “The introduction of Kakao Bank authentication will maximize customer convenience from the initial membership registration to the transaction preparation stage,” adding, “Based on cooperation with Kakao Bank, our real-name verification account partner bank, we will provide the industry’s highest level of transaction service accessibility.”
