Kiwoom Reportedly Seeks Bithumb Stake Amid Korean Crypto Push

Kiwoom Securities in Talks to Acquire Bithumb Stake – Korean Brokerages Expand Into Crypto Ahead of Regulatory Reforms

Key Takeaways

• Kiwoom Securities is reportedly in talks to acquire a stake in South Korean crypto exchange Bithumb.
• The deal would involve a third party allotment of new shares issued by Bithumb.
• The move comes as South Korea’s Financial Services Commission prepares new regulatory reforms in July.
• Several major Korean financial groups have recently invested in local crypto exchanges, including Coinone, Upbit operator Dunamu, and Korbit.

Kiwoom Securities Reportedly Discusses Equity Investment in Bithumb

South Korean brokerage Kiwoom Securities is reportedly seeking to acquire a stake in Bithumb, one of the country’s largest cryptocurrency exchanges by daily trading volume. According to a report by Chosun Biz, the two companies are discussing a third party allotment of new shares that would allow Kiwoom to purchase newly issued equity in the exchange.

Under such a structure, Bithumb would issue new shares directly to Kiwoom Securities rather than selling existing shares from current shareholders. The talks have not been publicly confirmed by either party. Requests for comment have been directed to both Kiwoom Securities and Bithumb.

Bithumb ranks among the top five cryptocurrency exchanges in South Korea by daily trading volume, according to data from CoinGecko cited in the report. An investment by Kiwoom would mark a direct entry of another traditional brokerage into the domestic crypto exchange sector.

Regulatory Reforms Drive Brokerage Interest in Digital Assets

The reported negotiations take place as South Korea’s Financial Services Commission prepares to announce new regulatory reforms in July. These reforms include a framework for tokenized securities that will bring such products under the country’s capital markets regime beginning in 2027.

The regulatory changes are part of amendments to the Capital Markets Act and the Electronic Securities Act. Together, they form South Korea’s first comprehensive framework for tokenized securities. The framework is scheduled to take full effect on Feb. 4, 2027.

As part of this effort, the Financial Services Commission has integrated token securities infrastructure into a broader overhaul of the country’s capital markets. The objective is to modernize traditional financial markets and align blockchain based investment products more closely with established systems used for mainstream securities settlement and trading.

Against this backdrop, traditional financial institutions appear to be positioning themselves to gain exposure to the crypto sector before the new rules take effect. The reported Kiwoom talks follow a series of similar investments by major brokerage and financial groups.

Wave of Investments in Korean Crypto Exchanges

Several recent transactions highlight a broader trend of Korean financial institutions acquiring stakes in digital asset platforms.

On May 29, Korea Investment and Securities and OKX Ventures agreed to invest a combined 160 billion won, equivalent to 106 million dollars, to purchase a 19.6 percent stake in crypto exchange Coinone.

One day earlier, Samsung Securities, Samsung SDS, and Samsung Card acquired a combined 4 percent stake in Dunamu, the operator of the Upbit exchange. The transaction amounted to 612.8 billion won, or 408 million dollars.

On May 15, Hana Financial Group announced that it would acquire a 6.55 percent stake in Dunamu from Kakao Investment for more than 668 million dollars. This transaction made Hana Financial Group the fourth largest shareholder in the Upbit operator.

Earlier in the year, in February, Mirae Asset Consulting agreed to acquire a 92.06 percent stake in Korbit for 133.48 billion won, approximately 93 million dollars. The deal gave Mirae Asset Consulting majority control of the exchange as part of its digital asset strategy.

These transactions collectively show that multiple large financial institutions in South Korea have moved to secure direct equity exposure to domestic crypto exchanges within a short time frame.

Implications for Crypto Market Participants

For users of crypto exchanges, including those who rely on digital assets for trading or payment purposes in sectors such as online gaming and sports betting, changes in ownership structures can affect governance, compliance frameworks, and long term strategic direction.

The upcoming regulatory reforms, particularly the integration of tokenized securities into the capital markets framework, indicate that South Korea is formalizing the legal treatment of blockchain based financial products. As brokerages acquire stakes in exchanges, the operational link between traditional finance and crypto platforms may become more structured under the new legal environment.

Bithumb’s position as one of the country’s largest exchanges by trading volume makes any potential ownership change relevant for market participants monitoring liquidity, regulatory alignment, and institutional involvement in the sector.

Our Assessment

The reported talks between Kiwoom Securities and Bithumb form part of a broader pattern of investment by major South Korean financial institutions in domestic crypto exchanges. These developments coincide with forthcoming regulatory reforms that will introduce a formal framework for tokenized securities under the amended Capital Markets Act and Electronic Securities Act, effective from February 2027. Together, the transactions and policy changes indicate increasing integration between traditional brokerage firms and the country’s regulated digital asset market.