According to news on December 30, data showed that the delinquency rate of cryptocurrency account credit loans of South Korean bank K Bank hit a record high. K Bank is the Korean won account affiliated bank of South Korea’s leading cryptocurrency exchange Upbit, which accounts for more than 70% of the country’s cryptocurrency trading volume. K Bank is preparing for an IPO next year after two consecutive listing failures, with its overreliance on Upbit and poor robustness metrics cited as possible obstacles to its listing. Data submitted to the Financial Supervisory Service today by the office of Kim Jae-seop, a member of the National Assembly Political Committee and a member of the People's Power Party, showed that as of the third quarter of this year, the default rate of personal credit loans of K Bank customers using cryptocurrency-related accounts was 1.28%. The outstanding balance is 47.4 billion won. Since the bank launched its cryptocurrency-linked account in June 2020, delinquency rates and delinquent balances have continued to hit record highs. It is reported that K Bank will restart its listing next month. The pre-listing review obtained in August this year will be valid until February next year, so the industry believes that K Bank may try to list again before then. Some analysts believe that the recent activity in the cryptocurrency market is beneficial to K Bank because it can create additional income by managing investor assets deposited on Upbit.