| Getting your Trinity Audio player ready... |
On June 1, 2025, World Vision Korea made history by becoming the first non-profit organization in South Korea to trade cryptocurrency, selling 0.55 Ethereum (ETH) on the Upbit exchange for approximately 1.98 million won ($1,431–$1,436). This landmark transaction marks a significant step in the evolving landscape of cryptocurrency adoption in South Korea, following the Financial Services Commission’s (FSC) decision to lift the institutional crypto trading ban on the same day. The move not only highlights the growing acceptance of digital assets but also sets a precedent for other non-profits to engage with crypto donations.
The Donation and Transaction Details
The ETH sold by World Vision Korea was donated during a March 2025 campaign organized by Upbit’s parent company, Dunamu. The initiative encouraged Upbit users to donate crypto to support underprivileged youth with essential school supplies like uniforms and books. Held by World Vision Korea’s Chairman Myung-hwan, the 0.55 ETH was converted to fiat currency through a Kbank account linked to Upbit, adhering to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. This ensured transparency and compliance with South Korea’s updated financial guidelines, which now permit qualified non-profits to sell crypto assets.
Regulatory Changes Enabling Crypto Trading
South Korea’s FSC announced on May 20, 2025, that non-profits with at least five years of audited financial history could participate in crypto trading under new compliance standards. This policy shift is part of a phased rollout, with plans to extend trading permissions to publicly listed companies and professional investors by the second half of 2025. The decision reflects South Korea’s broader embrace of digital assets, aligning with global trends where countries like the United States are integrating crypto into national reserves.
Impact on Philanthropy and Crypto Adoption
World Vision Korea’s pioneering trade underscores the potential for cryptocurrencies to transform philanthropy. By accepting and trading crypto donations, non-profits can tap into a younger, tech-savvy donor base and streamline global transactions with blockchain’s transparency and efficiency. However, navigating South Korea’s stringent regulations remains crucial, with requirements like real-name bank accounts and robust record-keeping to prevent financial abuse.
- Advertisement -
Upbit’s Role in the Crypto Ecosystem
This historic sale on Upbit, South Korea’s largest crypto exchange by trading volume, also highlights the platform’s role in facilitating institutional adoption. Despite a 34% drop in trading volume from Q4 2024 to Q1 2025, Upbit remains a key player in the region’s crypto ecosystem. World Vision Korea’s transaction could inspire other organizations, including universities and law enforcement agencies holding confiscated crypto, to explore similar opportunities as regulations continue to evolve.
Also Read: Mexico’s Ricardo Salinas Pliego Eyes 100% Bitcoin Portfolio Shift
Looking Ahead
As South Korea emerges as a leader in the global cryptocurrency arena, World Vision Korea’s pioneering step marks a new chapter for non-profit organizations. The intersection of philanthropy, blockchain technology, and regulatory progress promises to reshape how charities fund their missions, fostering greater inclusivity and innovation.
FAQs
Why did World Vision Korea sell ETH on Upbit?
World Vision Korea sold 0.55 ETH to convert crypto donations from a March 2025 campaign into fiat currency to fund school supplies for underprivileged youth.
What rules enabled World Vision Korea to engage in cryptocurrency trading?
On May 20, 2025, South Korea’s FSC updated rules to permit qualified non-profits with five years of audited financial history to sell crypto under strict KYC and AML compliance.
How does this impact the future of non-profits in South Korea?
World Vision Korea’s trade sets a precedent, encouraging other non-profits to accept and trade crypto donations, potentially increasing donor engagement and funding efficiency.
What is the significance of Upbit in this transaction?
Upbit, South Korea’s largest crypto exchange, facilitated the first non-profit crypto trade, reinforcing its role in the country’s growing digital asset ecosystem.
- Advertisement -
