Samsung Working on South Korean Crypto Exchange
Samsung’s securities company and other traditional brokerages plan to launch a crypto exchange next year. Samsung and several others could launch a crypto exchange. According to a report from NewsPim on August 22, seven South Korean securities companies under the Korea Financial Investment Association plan to open a virtual asset company. Those companies began to obtain licenses from financial authorities in the second half of 2022, and they plan to establish a virtual currency company in the first half of next year. The South Korean multinational giant Samsung is involved in the exchange’s creation through Samsung Securities. Mirae Asset Securities, South Korea’s largest investment banking and stock brokerage, is also involved in the effort. It appears that these companies are working on their own individual cryptocurrency goals as well. The group-led exchange is “seeking not only business models but also independent businesses for each securities company,” NewsPim says.
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