Upbit Hits 100 Institutional Clients in Crypto Custody Push

South Korea’s Upbit has crossed a significant threshold in its institutional expansion, with its custody service now serving more than 100 corporate clients since its launch in August 2025. Operated by Dunamu, the exchange has emphasized security and regulatory compliance, offering 100% offline cold wallet storage for institutional clients. This milestone marks a pivotal development in the institutional adoption of digital assets in Asia, demonstrating Upbit’s growing appeal as a trusted custodian for large-scale investors [1].

The custody service is designed specifically for institutional clients seeking secure and compliant asset management solutions. By leveraging offline storage and allowing clients to customize wallet configurations, Upbit has addressed key institutional concerns such as asset protection and operational flexibility. The move has also included strategic partnerships, including with Vietnam’s MB Bank, further reinforcing the platform’s commitment to regulatory alignment and institutional trust [1].

According to industry observers, Upbit’s progress in institutional onboarding is indicative of a broader trend in the crypto market. Similar services from global exchanges such as Coinbase and Binance have historically led to increased institutional participation and liquidity in major cryptocurrencies like Bitcoin and Ethereum. Dunamu CEO Sirgoo Lee highlighted that such custody offerings often serve as catalysts for broader corporate engagement in digital assets, reinforcing Upbit’s strategic positioning [1].

The success of Upbit’s custody service is not an isolated development, but part of a larger global shift in institutional attitudes toward cryptocurrencies. As regulatory scrutiny increases, particularly in markets like China Hong Kong where new custody rules have been introduced, platforms that can demonstrate high security and regulatory compliance gain a competitive edge. Upbit’s ability to attract a large number of institutional clients underscores its readiness to meet these evolving expectations [1].

Analysts from Kanalcoin note that the growth in institutional custody clients can have measurable effects on market dynamics. Institutions typically bring larger, more stable flows of capital, which can lead to increased liquidity and stability in crypto markets. While specific figures on assets under custody or the types of digital assets held are not disclosed, the number of clients alone is a strong signal of institutional confidence [1].

Upbit’s expansion into institutional custody also reflects the broader maturation of the crypto ecosystem. As more financial institutions consider digital assets as part of their portfolios, the demand for secure, scalable, and compliant custody solutions is set to rise. Upbit’s achievement highlights the company’s capability to scale its services and meet the unique needs of institutional investors, positioning it as a key player in this emerging segment [1].

The competition among crypto exchanges for institutional business is intensifying, with custody services becoming a central differentiator. Upbit’s milestone may encourage other platforms to refine or expand their institutional offerings, driving further innovation and standardization in the sector. As the market evolves, the role of custody services in facilitating institutional adoption will likely continue to grow in significance.

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[1] The – [https://www.koreatimes.co.kr/economy/20250817/expansionary-fiscal-policy-feared-to-increase-debt](https://www.koreatimes.co.kr/economy/20250817/expansionary-fiscal-policy-feared-to-increase-debt)

[2] Crypto – [https://cryptoadventure.com/hong-kong-regulator-tightens-custody-standards-for-licensed-crypto-exchanges/](https://cryptoadventure.com/hong-kong-regulator-tightens-custody-standards-for-licensed-crypto-exchanges/)