Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
FollowingSouth Korean brokerage Kiwoom Securities talks to acquire shares in Bithumb
South Korean brokerage Kiwoom Securities has entered the negotiation stage and plans to acquire shares in cryptocurrency exchange Bithumb by purchasing newly issued shares. Local media reported on Monday that the two sides were discussing relevant matters.
Summary
Kiwoom Securities is in talks to acquire Bithumb shares through subscription of new shares. Meanwhile, as South Korea advances discussions on new rules on digital asset ownership, Bithumb is still preparing for a 2028 listing. Prior to the investment talks, Bithumb was subject to regulatory penalties for cross-border transmission of personal information and anti-money laundering compliance issues.
According to media reports, Kiwoom and Bithumb are discussing a third-party private placement plan, that is, Bithumb will issue new shares for Kiwoom to subscribe. The report added that the two sides are still negotiating on the investment size and shareholding ratio, and final terms have not yet been reached.
This proposed investment is expected to add another large financial institution to South Korea\'s digital asset sector. Earlier, Hana Bank, one of South Korea\'s four largest banks, disclosed plans last month to acquire a stake in Upbit operator Dunamu for US$670 million. Subsequently, local media reported that three Samsung affiliates would purchase Dunamu shares for approximately US$407.7 million, holding a total ownership of 4%.
At the same time, international cryptocurrency companies have also expanded their investment in South Korea. OKX Ventures announced in May that it would acquire a 19.6% stake in Coinone, while Binance finally completed its acquisition of Gopax after years of regulatory delays.
Bithumb advances preparations for listing in equity negotiations
Days before the investment negotiations, South Korea\'s Personal Information Protection Commission fined Bithumb 210 million won (approximately US$136,000) for violating regulations on cross-border transmission of personal information. Regulators also ordered the exchange to revise its cross-border data transfer procedures after discovering that user information was being transferred overseas without fully meeting the requirements of the Personal Information Protection Law.
Before this privacy case, Bithumb was subject to regulatory penalties for anti-money laundering compliance issues. South Korean regulators fined him 36.8 billion won after discovering flaws in customer due diligence, transaction monitoring and transfers involving unregistered overseas virtual asset service providers.
The Personal Information Protection Commission has also released new blockchain privacy guidelines that require companies to consider personal data protection issues when designing blockchain-based services.
At the same time, Bithumb continues to prepare for the listing while advancing investment negotiations. The exchange has signed an IPO advisory service agreement with Sanzheng Certified Public Accountants until the end of 2027. Chief Financial Officer Jeong Sang-gyun said in April that the company expects to go public in 2028.
South Korean lawmakers are also working on the Digital Assets Basic Act, which aims to establish a comprehensive legal framework for cryptocurrencies. The draft bill stipulates that a single shareholder\'s shareholding in a cryptocurrency exchange should usually not exceed 20%, but a shareholding of 34% is allowed under certain conditions, and relevant conditions are still under discussion.
