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Kiwoom Securities is exploring a possible investment in Bithumb, putting another South Korean brokerage closer to the country’s crypto exchange sector.
The talks are still early. Kiwoom has told the market that no final decision has been made, but local reports said the parties have discussed a new-share investment structure.
Bithumb Could Issue New Shares
The structure under review would involve Bithumb issuing new shares through a third-party allotment, with Kiwoom buying the newly created stock. The investment size, stake and final terms have not been set.
Local reports said Kiwoom recently showed interest in investing, while Bithumb has pushed back on claims that detailed negotiations are already underway.
That distinction matters because the deal is not a signed acquisition. It is a possible strategic investment in one of South Korea’s largest crypto exchanges as securities firms position for future token securities and digital asset rules.
Samsung and Coinone Deals Add Context
Kiwoom would not be the first traditional finance firm to move toward a local crypto exchange. Samsung Securities, Samsung SDS and Samsung Card recently moved to acquire a combined stake in Dunamu, the operator of Upbit.
Korea Investment & Securities and OKX Ventures also agreed to invest in Coinone. Those deals show how South Korea’s brokerage and financial groups are positioning around crypto market infrastructure.
Exchanges Offer Users and Custody Rails
Crypto exchanges bring assets that brokerages cannot build overnight. They already have retail users, trading data, custody systems and regulated digital asset operations.
For securities firms, buying or partnering with an exchange can offer a faster route into crypto services before new rules decide who can issue, distribute or trade digital assets.
Token Securities and Stablecoins Shape Timing
The interest comes as South Korea prepares a fuller legal framework for token securities and stablecoins. Token securities already have a legislative path after capital market law amendments were passed earlier this year.
Stablecoin rules are also being debated as lawmakers and regulators look for ways to bring more digital asset activity into the formal financial system. Token securities would fall under capital-market rules, while stablecoin legislation would decide issuer and payment-use permissions.
Bithumb IPO Plans Keep it in Focus
Bithumb is South Korea’s second-largest crypto exchange and has been working toward a public listing. The exchange has also faced closer scrutiny this year after operational issues raised questions about internal controls in the local crypto market.
That makes any outside investment both a growth move and a governance test. The next step is whether Kiwoom and Bithumb move from early talks to formal terms. Until then, the investment remains under review rather than a completed deal.
