Kiwoom Securities Joins Korean Brokerage Race for Crypto Stakes
South Korea’s Kiwoom Securities is in talks to acquire a Bithumb stake, joining Samsung, Hana Financial, and others in a wave of traditional finance firms entering crypto. The move comes ahead of July regulatory reforms for tokenized securities, signaling deepening institutional adoption.
Quick Take
Kiwoom Securities reportedly negotiating to buy Bithumb shares.
Samsung, Hana Financial, and others acquired stakes in Upbit and Coinone.
Upcoming FSC reforms on tokenized securities drive institutional interest.
Trend highlights South Korea's shift toward regulated crypto integration.
Market Impact Analysis
BullishIncreasing institutional involvement in South Korean crypto exchanges signals growing mainstream adoption, potentially boosting market confidence and liquidity.
Speculation Analysis
Key Takeaways
- Kiwoom Securities is reportedly in talks to acquire a stake in Bithumb, South Korea's second-largest crypto exchange by volume.
- The move follows a trend of traditional Korean brokerages investing in digital asset platforms, driven by impending regulatory clarity.
- Samsung, Hana Financial, and others have already poured over $1 billion combined into exchange stakes in recent months.
- South Korea's Financial Services Commission (FSC) will announce a tokenized securities framework in July, sparking institutional interest.
- The trend is expected to accelerate as regulations modernize, bringing crypto closer to mainstream finance.
What Happened
Kiwoom Securities, a major South Korean brokerage, is in talks to acquire a stake in crypto exchange Bithumb. The deal would involve a third-party allotment of new shares, according to local media. Bithumb consistently ranks among the top five exchanges in Korea by daily trading volume. The move adds Kiwoom to a growing list of traditional financial firms entering the crypto space. Samsung Securities, Korea Investment & Securities, and Hana Financial Group have all made similar moves in recent months.
The Numbers
The recent wave of investments underscores the capital flowing from traditional finance into Korean crypto infrastructure. Samsung entities paid $408 million for a 4% stake in Dunamu, the operator of market leader Upbit. Korea Investment & Securities and OKX Ventures invested $106 million for a 19.6% slice of Coinone. Mirae Asset Consulting spent $93 million to take control of Korbit. Hana Financial put in $668 million for a 6.55% Dunamu stake. The Kiwoom–Bithumb deal size has not been disclosed.
Why It Happened
South Korea's Financial Services Commission is preparing to announce new regulatory reforms in July, including a framework for tokenized securities. These rules, part of the amended Capital Markets Act and Electronic Securities Act, will bring blockchain-based investment products under the mainstream capital markets system by 2027. The regulatory clarity is prompting traditional financial firms to secure early stakes in leading exchanges before the full framework takes effect. They aim to position themselves for the expected integration of crypto and traditional finance.
Broader Impact
The entry of established brokerages and financial groups into the crypto exchange space signals a shift toward institutional legitimacy. It could lead to greater liquidity, improved compliance standards, and wider retail access. As more traditional capital flows in, the line between crypto and traditional finance continues to blur, potentially boosting market confidence and attracting global investors.
What to Watch Next
- Deal specifics: Watch for details on the Kiwoom–Bithumb stake sale, including valuation and the size of the stake.
- FSC announcements: The July regulatory reforms will detail how tokenized securities and exchanges will operate under the new framework.
- More players entering: Expect additional Korean brokerages or financial institutions to explore crypto exchange stakes, especially ahead of the 2027 deadline.
This article is for informational purposes only and does not constitute financial advice.
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