Global virtual asset industry leaders are looking to expand their business into 'on-chain finance,' which processes payments, investments, and asset management on the blockchain. This initiative aims to broaden the role of virtual asset trading into financial infrastructure by tokenizing traditional financial assets like stocks and bonds and encouraging participation from global financial firms.
At the 'Korea Blockchain Week (KBW) 2026 with Upbit' held on September 30 at the Walkerhill Hotel in Gwangjin-gu, Seoul, key figures from the global virtual asset sector highlighted the importance of on-chain finance. On-chain refers to the direct recording and processing of financial transactions and asset issuance and transfer on the blockchain.
Tom Lee, chairman of the board at Bitmain and a prominent Ethereum investor, predicted that the expansion of tokenization initiatives by global financial companies such as BlackRock, JP Morgan, and Robinhood will drive growth in the on-chain market. He explained that as assets from traditional financial markets move to the blockchain, the market size will increase.
Joseph Lubin, co-founder of Ethereum and CEO of MetaMask, who visited Korea for the first time in seven years, expressed optimism that on-chain finance will extend beyond virtual asset trading to encompass everyday financial services like payments, investments, and asset management. He revealed plans to develop MetaMask, a self-custody virtual asset wallet, into a personal 'money operating system' separate from institutional blockchain services.
In South Korea, efforts are underway to bridge traditional finance and blockchain through tokenized securities. The industry views the introduction of a tokenized securities system as an opportunity for the existing capital market's trading infrastructure to integrate with blockchain technology.
O Kyung-seok, CEO of Dunamu, emphasized that “those who seize the (on-chain) market will set the standards for the next era,” urging Korea to take the lead in this transformative trend. He also outlined plans to grow Dunamu into an infrastructure company connecting the domestic financial market with the global on-chain market. By combining the trading, custody, and anti-money laundering (AML) capabilities accumulated through Upbit with its own blockchain and artificial intelligence (AI) technology, Dunamu aims to accelerate its transition into a comprehensive digital financial platform in collaboration with Naver Financial.
* This article has been translated by AI.
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