South Korea’s largest cryptocurrency exchange, Upbit, has been ranked 7th in Forbes’ 2025 list of “Most Reliable Cryptocurrency Businesses.” Despite the challenging regulatory environment in Korea, Upbit’s recognition on the global stage is attributed to its commitment to transparency, financial soundness, and security.
Upbit Ranked No.1 in Korea and No.7 Globally in Trustworthiness
Forbes recently evaluated over 200 cryptocurrency exchanges and related businesses worldwide, assessing them based on nine criteria, including Bitcoin and Ethereum holdings, regulatory compliance, transparency, financial soundness, and transaction fees.
Upbit received a score of 6 out of 10 in this evaluation, ranking 7th globally behind leading firms such as the Chicago Mercantile Exchange (CME), Coinbase, Bitstamp, and Binance. It was the only South Korean exchange to make it into the global top 10.
Strengthening Its Global Position Amid Domestic Regulatory Challenges
Upbit has also been recognized in other international rankings. In Kaiko’s Q4 2024 evaluation, it was ranked 5th globally and 1st in Korea, while CCData’s November 2024 report placed it 14th worldwide and 1st domestically. These rankings highlight Upbit’s growing credibility in the global cryptocurrency market.
However, in South Korea, increasingly stringent cryptocurrency regulations have posed challenges for domestic exchanges. The Specific Financial Information Act (Special Act) has mandated stricter anti-money laundering (AML) and Know Your Customer (KYC) measures, making it more difficult for local exchanges to compete with global players.
CEO Lee Seok-woo: “Investor Protection is Our Top Priority”
Commenting on the Forbes ranking, Lee Seok-woo, CEO of Upbit’s parent company, Dunamu, stated: “Upbit is committed to being a globally trusted cryptocurrency exchange by continuously improving service quality, security, and investor protection.”
He further emphasized that despite South Korea’s tightening regulatory framework, Upbit will continue to adhere to global standards and strengthen its competitiveness while prioritizing a safe trading environment for users.
Upbit’s inclusion in Forbes’ rankings reaffirms its position as a key player in the global cryptocurrency industry. Moving forward, the industry will be watching closely to see how Upbit navigates Korea’s regulatory challenges while maintaining its global competitiveness.
