TLDR
- Kiwoom Securities has entered negotiations to purchase an ownership stake in Bithumb through a new share allocation process.
- Investment amount and ownership percentage remain undisclosed as both parties continue discussions.
- This follows major investments including Hana Bank’s $670M Dunamu purchase and Samsung entities acquiring 4% combined.
- Bithumb delayed its public offering to 2028 following a February 2026 technical failure that generated 620,000 fake Bitcoin units and triggered market volatility.
- Pending Digital Asset Basic Act legislation may restrict individual shareholder ownership in exchanges to 20–34% maximum.
Traditional banking and financial services companies in South Korea are aggressively pursuing ownership stakes in the nation’s cryptocurrency trading platforms. Kiwoom Securities, among the largest securities firms in the country, has begun negotiations to acquire a portion of Bithumb, which ranks as South Korea’s second-largest digital currency exchange based on transaction volume.
Kiwoom Securities Seeks Stake in Bithumb, South Korea’s No. 2 Crypto Exchange
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
— Wu Blockchain (@WuBlockchain) June 29, 2026
Under the proposed transaction structure, Bithumb would create and distribute new shares through a third-party allocation mechanism, with Kiwoom Securities as the purchasing entity. Neither the total investment value nor the resulting ownership percentage has been finalized at this stage.
Representatives from Bithumb acknowledged ongoing conversations with several financial institutions regarding potential strategic alliances but emphasized that no binding agreements have been reached. Kiwoom Securities has declined to issue public statements on the matter.
Traditional Finance Firms Compete for Crypto Assets
The securities firm is far from alone in pursuing cryptocurrency exchange investments. In the previous month, Hana Bank—one of the nation’s top four banking institutions—revealed plans to secure a $670 million ownership position in Dunamu, the parent organization of Upbit, South Korea’s dominant crypto trading venue.
Following that announcement, three subsidiaries under the Samsung corporate umbrella disclosed their intention to purchase approximately $407.7 million in Dunamu equity, establishing a collective 4% ownership stake.
International cryptocurrency firms have also entered the Korean market. OKX Ventures declared in May its acquisition of a 19.6% interest in Coinone. Meanwhile, Binance finalized its Gopax exchange purchase after navigating extended regulatory approval processes.
Kiwoom has been expanding its digital currency operations through the KDX consortium, which includes partnerships with the Korea Exchange, Kyobo Life, and KakaoPay Securities. This collaborative group is focused on launching a compliant infrastructure for digital asset transactions.
Recent Operational Challenges at Bithumb
The exchange carries significant operational history. A February 2026 system malfunction resulted in approximately 620,000 nonexistent Bitcoin units appearing in customer accounts. This technical error sparked a market crash that temporarily drove Bitcoin valuations down to approximately $55,000.
The episode severely impacted Bithumb’s regulatory reputation and forced postponement of its public market debut. While the platform had executed an IPO consulting contract with Samjong KPMG, the stock market listing has been rescheduled to no sooner than 2028.
Nevertheless, Bithumb has maintained its expansion strategy. In March 2026, the exchange formalized a memorandum of understanding with SSI Digital to investigate establishing a digital asset trading platform in Vietnam.
From a policy perspective, South Korean lawmakers are advancing the Digital Asset Basic Act. Though the legislation has experienced procedural delays, parliamentary leaders intend to advance the measure during the latter half of 2026. A key provision under consideration would limit individual shareholder ownership in cryptocurrency exchanges to 20%, though exemptions could permit stakes reaching 34% in specific situations.
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