Online lender KBank has pulled back from its $700 million-plus initial public offering in Seoul, which it had planned to price on Friday and was scheduled for October 30. K Bank has rapidly expanded its customer base by partnering with Upbit, South Korea's largest cryptocurrency exchange, but its contract with the exchange is due to expire next October. Upbit's deposits accounted for 16.8% of K Bank's total deposits at the end of June. K Bank said in its IPO prospectus that failure to extend partnerships with key strategic partners could undermine the competitiveness of its platform.