Korbit Builds Industry-First Dual-Redundant KRW Deposit and Withdrawal System

South Korean cryptocurrency exchange Korbit announced on July 16 that it has built the industry's first dual-redundant system for Korean won (KRW) deposits and withdrawals. The upgrade is designed to eliminate service interruptions caused by issues with a single firm-banking network.

Korbit's existing KRW deposit and withdrawal infrastructure relied on a single connection through Hecto Financial, a financial IT solutions provider, linked to Shinhan Bank—the exchange's partner bank for real-name verified accounts. The new system adds a parallel integration with Dozn, another financial IT provider, creating a multi-path connection that runs "Korbit–Hecto Financial–Dozn–Shinhan Bank."

According to Korbit, the dual-redundant setup ensures that if one firm-banking network undergoes maintenance or experiences a temporary outage, the exchange can instantly switch to the alternate network to process KRW deposits and withdrawals. Previously, such disruptions could temporarily halt fiat services even when the bank's own systems were functioning normally.

The company's chief technology officer, Lee Jung-woo, described the project as a proactive step to minimize user inconvenience and provide a stable investment environment. "Building redundancy into the KRW deposit and withdrawal system is a proactive measure to minimize user inconvenience and provide a stable investment environment even in unexpected outage situations," Lee said. "We will continue technological innovation to protect investors and strengthen system stability."

The move comes amid heightened regulatory scrutiny and competition among South Korean exchanges to solidify infrastructure and user trust. By claiming an industry first, Korbit aims to differentiate itself in a crowded market where reliable fiat on-ramps are a key competitive factor.