Kiwoom eyes Bithumb stake as Korean brokerages push into crypto: Report

Kiwoom Securities is reportedly seeking to acquire a stake in crypto exchange Bithumb, as more brokerage firms race to secure a stake in the industry ahead of the FSC’s new regulatory reforms in July.

South Korean brokerage Kiwoom Securities is reportedly in talks to buy a stake in Bithumb, making it the latest traditional financial firm in the country to seek exposure to a local crypto exchange.

The two companies are reportedly discussing a third-party allotment of new shares that would allow Kiwoom Securities to acquire new shares issued by Bithumb, Chosun Biz reported on Monday.

Cointelegraph contacted Kiwoom Securities and Bithumb for comment on the reported talks.

Read more