Kiwoom Securities is reportedly in talks to buy a stake in Bithumb, a move that could deepen the link between South Korea’s traditional finance sector and its fast growing crypto market.
Key Takeaways
- Kiwoom Securities is discussing a possible stake purchase in Bithumb through newly issued shares.
- The deal size and ownership percentage have not been finalized.
- The talks come as South Korean brokerages look for regulated ways to enter the digital asset market.
- Bithumb is preparing for a future IPO while facing closer regulatory scrutiny.
What Happened?
Kiwoom Securities and Bithumb are reportedly discussing a third party allotment of new shares, according to local media reports citing ChosunBiz. Under the plan, Bithumb would issue fresh shares directly to Kiwoom, giving the brokerage an equity position in South Korea’s second largest crypto exchange.
Bithumb has not confirmed a final agreement. A company official reportedly said the exchange is exploring partnerships with different financial and corporate groups, but no specific deal has been reviewed or completed.
Kiwoom Securities Seeks Stake in Bithumb, South Korea’s No. 2 Crypto Exchange
— Wu Blockchain (@WuBlockchain) June 29, 2026
South Korea’s Kiwoom Securities is seeking to acquire a stake in Bithumb, the country’s second-largest crypto exchange, according to Chosun Biz. The two sides are discussing a third-party allotment of… pic.twitter.com/QTiFzKbCfY
Kiwoom Looks for a Stronger Crypto Foothold
The reported talks show how quickly South Korea’s financial sector is moving toward crypto infrastructure. Kiwoom Securities is one of the country’s major brokerage firms and has a strong retail investor base.
A stake in Bithumb would give Kiwoom direct exposure to one of Asia’s most active crypto trading markets. For Bithumb, the deal could bring capital, institutional credibility, and stronger ties with the traditional finance sector.
The structure under discussion would allow Kiwoom to enter the market without launching its own crypto exchange. That could be a lower risk path while South Korea continues shaping its digital asset rules.
Brokerages Move Closer to Crypto Exchanges
Kiwoom is not the only financial firm showing interest in crypto platforms. Reports have also linked Samsung Securities, Mirae Asset Securities, and Korea Investment Securities to possible investments in local virtual asset exchanges.
The wider shift follows South Korea’s Virtual Asset User Protection Act, which came into force in 2024. The law created tougher rules for customer asset protection, unfair trading practices, and exchange oversight.
Lawmakers are also discussing broader digital asset legislation that may cover stablecoins, ownership rules, institutional participation, and market conduct.
Ownership Rules Could Shape the Deal
The final terms may depend on South Korea’s planned rules for crypto exchange ownership. Recent reports suggest regulators may limit a single shareholder’s stake in a crypto exchange to 20%, with some cases possibly allowed up to 34%.
This matters for Bithumb because its current ownership structure has faced attention. Reports say its largest shareholder controls more than 70%, which could become a problem if stricter rules are introduced.
A strategic investment from Kiwoom could help Bithumb diversify its shareholder base before any future public listing.
Bithumb Prepares for IPO Under Regulatory Pressure
Bithumb has been preparing for a possible public listing, with earlier expectations pointing to 2028. However, some recent reports suggest the timetable could move beyond that date.
The exchange has also faced regulatory action. South Korea’s Personal Information Protection Commission fined Bithumb 210 million won, about $136,000, over overseas personal data transfer violations. Regulators also ordered changes to its cross border data procedures.
Separately, Bithumb faced a 36.8 billion won penalty tied to anti-money laundering compliance issues, including customer due diligence, transaction monitoring, and transfers involving unregistered overseas virtual asset service providers.
CoinLaw’s Takeaway
I found this potential deal important because it shows that crypto is no longer sitting outside the main financial system in South Korea. In my experience, once brokerages begin treating exchanges as strategic infrastructure, the market changes fast.
For Kiwoom, this looks like a smart entry point into digital assets without taking on the full burden of running an exchange. For Bithumb, a respected financial partner could help improve confidence as regulators tighten the rules. My strong view is that this is not just about one investment. It is a signal that South Korea’s next crypto phase may be led by regulated financial giants, not only native crypto firms.
