FOBLGATE

Founded in January 2019 and launched in July of the same year, FOBLGATE has established itself as a premier centralized cryptocurrency exchange in South Korea. Operating under the vision of "A New Challenge and Innovation in Finance," the exchange has rapidly emerged as a market leader in Korea.

Key Characteristics:

• Regulatory Compliance: Obtained Information Security Management System (ISMS) certification and completed reporting to the Financial Intelligence Unit (FIU) in compliance with the Special Financial Transaction Information Act implemented in September 2021.
• Security System: Developed an Anti-Money Laundering (AML) system in collaboration with GT1, which has experience building AML systems for 100 domestic and international companies, including Samsung Securities and Kakao Bank.
• Travel Rule Compliance: Implemented a dual-track Travel Rule solution by adopting 'Verify VASP' from Lambda256 and CODE, ensuring advanced transaction security and transparency.

Market Share:

As of April 2024, FOBLGATE leads the cryptocurrency exchange market with a 93.81% market share among the NON-KRW exchanges with trading volume.

Recent developments:

• Received on-site consulting from the Financial Supervisory Service(FSS) in March 2024 and completed preliminary document submission for Virtual Asset Service Provider (VASP) renewal in September.
• In February 2024, initiated secure deposit and withdrawal services with Binance through Verify VASP's account owner verification service.

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