- SBI Digital Markets has announced the appointment of Jai Yung Byun as the chief advisor.
- While SBI envisions expanding to Korea, the platform seeks Byun’s guidance in governance and regulatory compliance.
- The platform’s move aligns with South Korea’s new crypto regulatory developments.
SBI Digital Markets, a crypto firm under SBI Holdings, has appointed Jai Yung Byun as the Principal Consultant, a strategic step towards the platform’s expansion to Korea.
In anticipation of strengthening SBI Digital Markets’ governance and regulatory compliance standards and thereby safeguarding investors’ interests under the guidance of Byun, CEO Winston Quek stated:
“Mr Byun’s appointment underscores our commitment to delivering excellence and driving growth in Korea, APAC and beyond. Leveraging Mr Byun’s consultancy, we will also further strengthen our governance and regulatory compliance standards to safekeep the interests of our institutional investors and partners.”
The platform aims to establish itself as a leading crypto company in South Korea, with Byun’s expertise. His vast experience includes the various positions he held in the Bank of Korea, including the Head of the International Finance Policy Planning Team, Director General of Foreign Exchange Analysis and Investigation, and Chief Representative at the Bank of Korea’s Washington D.C. Representative Office.
In addition, Byun played a significant role in South Korea’s recovery from the foreign exchange crisis of 1997-1998. Since 2023, Byun has contributed to SBI Digital Markets, discussing innovative moves for business development and regulatory strategies.
SBI Digital Markets’ move comes on the heels of South Korea’s new regulations. The country is establishing new crypto regulatory norms, set to take effect on July 19. South Korea has also taken the initiative to confront the growing threats in the crypto market.
Byun’s appointment signals SBI Digital Markets’ commitment to not only expanding its footprint in Korea but also to enhancing its regulatory and governance frameworks. As South Korea prepares to implement new crypto regulations, Byun’s extensive experience and strategic insight position SBI Digital Markets to navigate these changes successfully.
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