World Vision first nonprofit to trade crypto in South Korea after ban lifted
World Vision cashed out nearly $1,500 worth of Ether received in a campaign in March that asked Upbit users to donate to help kids who can’t afford school supplies.
Humanitarian aid organization World Vision Korea is the first nonprofit to sell crypto in South Korea after the country ushered in new rules around institutional crypto trading.
World Vision Korea sold 0.55 Ether (ETH), worth roughly 1.98 million won ($1,436) on Upbit, according to a June 1 statement from Dunamu, the parent company of the crypto exchange.
The Ether, which was held by Chairman Myung-hwan, was donated as a result of a campaign in March that asked Upbit users to donate crypto to help underprivileged youth who can’t afford school items such as uniforms and bags.