South Korean brokerage Kiwoom Securities is in talks to acquire a stake in crypto exchange Bithumb, making it the latest traditional financial firm to grab a foothold in the country’s digital asset market.
The deal, reported by Chosun Biz, would use a third-party allotment of new shares, letting Kiwoom buy directly from Bithumb rather than on the open market. Neither company officially confirmed the discussions.
This is not happening in a vacuum. South Korea’s Financial Services Commission is preparing to roll out sweeping regulatory reforms in July. The centerpiece: a formal framework for tokenized securities, which would bring blockchain-based investment products under the country’s capital markets rules starting February 2027.
Traditional finance firms are racing to lock in positions before the rules settle. Just within the past two months, Korea Investment Securities and OKX Ventures bought a 19.6% stake in Coinone for roughly $106 million. Samsung Securities, Samsung SDS, and Samsung Card collectively grabbed 4% of Dunamu (Upbit’s operator) for over $400 million. Hana Financial acquired 6.55% of Dunamu as well. And Mirae Asset Consulting bought a controlling 92% stake in Korbit for about $93 million.
The pattern is obvious: Korean TradFi is buying exchange exposure ahead of regulations that will make those assets far more accessible to mainstream investors.
Bithumb, for its place in all this, is one of South Korea’s largest exchanges by daily trading volume according to CoinGecko data. If Kiwoom closes the deal, it adds another major TradFi name to the list and another sign that crypto in South Korea is about to get a lot more institutional.
