South Korea’s Kiwoom Securities to acquire stake in Bithumb crypto exchange: report
The Block·
60-second summary
Kiwoom Securities is reportedly acquiring a stake in Bithumb, a South Korean crypto exchange, as part of a larger wave of local institutions investing in local exchanges, driven by evolving regulatory conditions. This development follows similar moves by other South Korean institutions, indicating a shift towards institutional investment in the country's crypto market. Market implications are yet to be seen.
This is part of a larger wave of South Korean institutions purchasing stakes in local exchanges, amid developing regulatory conditions.