- Kiwoom Securities is in early talks to acquire a strategic stake in Bithumb.
- South Korean brokerages are expanding rapidly into crypto infrastructure now.
- STO and stablecoin rules are driving new brokerage-crypto partnerships ahead.
South Korea’s traditional financial firms are moving deeper into the cryptocurrency industry, with another major brokerage now exploring an investment in one of the country’s largest digital asset exchanges.
According to reports, Kiwoom Securities is in preliminary discussions to acquire a stake in Bithumb, the country’s second-largest cryptocurrency exchange. While negotiations are still at an early stage, the move signals growing interest from mainstream financial institutions in building a stronger presence in digital assets.
Talks Still In Early Stages
Neither the size of the proposed investment nor the final structure of the deal has been decided. Industry sources say one option under discussion is a new share issuance by Bithumb, allowing Kiwoom Securities to invest directly into the exchange. However, Kiwoom has not officially confirmed the reports, saying it cannot comment on market speculation.
If completed, the investment would mark another major partnership between South Korea’s securities industry and the country’s fast-growing crypto sector.
Brokerages Are Positioning For Digital Assets
The discussions come as South Korea prepares for broader regulation around digital assets, including security token offerings (STOs) and stablecoins.
Many brokerages believe crypto exchanges could become an important part of the country’s future financial infrastructure. By partnering with exchanges, traditional financial firms can combine their expertise in capital markets with blockchain-based trading platforms and digital payment systems.
The trend reflects a broader effort by financial institutions to position themselves ahead of expected regulatory changes rather than waiting for the new framework to take effect.
Related: Hong Kong Expands Crypto Tax Reporting to 8,000 More Firms
A Growing Investment Trend
Kiwoom is not the only brokerage expanding into crypto. Last month, Korea Investment & Securities acquired roughly a 20% stake in Coinone, becoming one of the exchange’s largest shareholders.
Meanwhile, Samsung Securities, together with Samsung SDS and Samsung Card, disclosed plans to acquire a stake in Dunamu, the operator of Upbit, South Korea’s largest cryptocurrency exchange.
Elsewhere, Hanwha Investment & Securities recently increased its ownership in Dunamu, while Mirae Asset Consulting agreed to acquire a controlling stake in crypto exchange Korbit.
Bithumb Could Be Preparing For Its Next Chapter
The reported discussions also come as Bithumb continues preparing for a potential public listing.
The exchange has been restructuring its business ahead of a planned IPO, separating its exchange operations from other business divisions. Analysts believe bringing in established financial institutions before a listing could strengthen investor confidence and improve corporate governance.
Although no agreement has been finalized, the latest talks highlight how South Korea’s largest brokerages are increasingly viewing cryptocurrency exchanges as strategic partners rather than competitors.
Related: Adam Back Calls BIP-110 ‘Technically Defective’ as Bitcoin Governance Debate Heats Up
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