Samsung Securities and 6 Other South Korean Brokers to Launch Crypto Exchanges in 2023

Seven large domestic securities companies in South Korea have filed to open exchanges for Bitcoin and other digital assets in the first half of 2023.

The two brokerages mentioned in the report are Samsung Securities and Mirae Asset Securities with 5 other companies left unnamed.

Samsung already made an attempt to establish a crypto platform last year and still continues to look for ways to enter the digital financial ecosystem. Mirae is currently the largest South Korean investment bank by market capitalization with around $648 billion in managed assets. The company plans to research blockchain-based platforms and establish a subsidiary to operate their exchange.

Many South Korean institutions turned their attention to cryptocurrencies after the election of the new president Yoon Suk-Yeol who promised to deregulate the Bitcoin and crypto markets on his campaign trail.