Kiwoom Securities is reportedly exploring a stake investment in the virtual asset exchange Bithumb. As discussions around the institutionalization of token securities (STO) and stablecoins gain momentum, competition among securities firms to secure a foothold in the digital asset market is intensifying.
According to financial investment industry sources on June 29, Kiwoom Securities and Bithumb are in the early stages of negotiations regarding the investment. The scale and method of the investment have not yet been finalized. One possibility being discussed is a third-party allocation of new shares issued by Bithumb, which Kiwoom Securities would then acquire. However, Kiwoom Securities has stated, "We cannot confirm this at this time."
This potential collaboration is seen as part of a broader trend of increasing partnerships between securities firms and virtual asset exchanges ahead of the implementation of the STO framework and the introduction of stablecoins. Analysts suggest that as the digital asset market becomes integrated into regulated finance, opportunities for combining the capital market capabilities of securities firms with the trading infrastructure of exchanges could expand significantly.
Investments by securities firms in virtual asset exchanges are becoming more common. Last month, Korea Investment & Securities acquired approximately 20% of Coinone, becoming its third-largest shareholder. Samsung Securities, in collaboration with Samsung SDS and Samsung Card, agreed to acquire a 4.0% stake in Dunamu, which is owned by a Kakao affiliate. Hanwha Investment & Securities increased its stake in Dunamu to 9.84%, while Mirae Asset Consulting, a subsidiary of Mirae Asset Group, plans to acquire a 92.06% stake in Korbit for 133.5 billion won.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.