World Vision Korea Sells 0.55 ETH for 1.98 Million Won Post FSC Policy Shift

World Vision Korea, a non-profit organization, has made history by becoming the first entity to sell cryptocurrency in South Korea following the lifting of a phased ban on institutional clients trading crypto. This significant move comes under the new guidelines issued by the South Korean Financial Services Commission (FSC), which now permits non-profits to sell crypto assets received through donations and sponsorships.

On Sunday, World Vision Korea executed its first sale of 0.55 Ethereum (ETH), which is equivalent to approximately 1.98 million won ($1,431). The transaction was conducted on Korea’s largest cryptocurrency exchange, Upbit. The NGO linked its Kbank account to Upbit to facilitate the sale of the Ethereum it had received through donations. This sale marks a pivotal moment in the integration of cryptocurrency into the philanthropic sector in South Korea.

To ensure compliance and prevent money laundering, the FSC has implemented stringent verification processes for the purposes and sources of funds for non-profits. Additionally, the guidelines stipulate that donations must be made through domestic won exchange accounts. These measures are designed to safeguard the integrity of the financial system while allowing non-profits to leverage the benefits of cryptocurrency.

Dunamu, the parent company of Upbit, is actively working to support non-governmental organizations in selling their crypto donations. The company aims to establish a platform that aligns with the guidelines set by financial authorities and the industry. Dunamu is currently in discussions with organizations such as the Community Chest of Korea and Love Fruit to revitalize the virtual asset sharing culture. In March, Dunamu and Upbit conducted a crypto sponsorship campaign to aid underprivileged youth, and the recent sale by World Vision is a direct result of that initiative.

Looking ahead, the FSC has announced a controlled rollout plan that will allow publicly listed firms and entities to trade cryptocurrency in the second half of 2025. This plan will permit approximately 3,500 listed companies and professional investment corporations registered under Korea’s Capital Markets Act to engage in virtual asset trading. This move reflects the South Korean government's increasingly permissive stance towards digital assets, aligning with global trends where other jurisdictions are also embracing cryptocurrency into their national reserves.

This development is particularly noteworthy as South Korean investors are closely watching the upcoming presidential election. All three leading candidates have pledged to support the growth of the local crypto sector, including the approval of spot crypto ETFs. This political backing further underscores the region's commitment to fostering a thriving cryptocurrency ecosystem.