TechFlow news, June 29, according to Chosun BIZ, South Korea's second-largest virtual asset exchange Bithumb is negotiating with Kiwoom Securities regarding a third-party private placement of new shares, with the specific shareholding ratio and investment scale still under negotiation. Following Samsung, Mirae Asset, and Korea Investment & Securities, Kiwoom Securities has become another major securities firm seeking to invest in a virtual asset exchange.
Regarding the background, South Korean securities firms are accelerating their expansion into the virtual asset industry to prepare for the upcoming STO (Security Token Offering) and stablecoin institutionalization reforms. In addition, the South Korean Financial Services Commission is studying new regulations that would limit the shareholding ratio of major exchange shareholders to 20% in principle (up to 34% in special cases), whereas Bithumb's largest shareholder, Bithumb Holdings, currently holds up to 73.56% and will face significant pressure to reduce its holdings if the new regulations are implemented.
