A slew of major South Korean securities companies – many of which may be affiliated with major commercial banks and business groups – could be set to launch crypto exchange platforms as early as next year.
Per Newspim, “seven large domestic securities companies” have already applied to financial regulators for “preliminary approval” – and hope to launch “virtual asset exchanges” in the “first half of next year.”
The names of the seven companies were not revealed. But one unnamed official from one of the securities companies was quoted as stating that “currently” the “discussions necessary for the establishment” of an exchange were “being finalized.”
The same news outlet explained that the companies' “preliminary authorization” processes would likely be complete by the “end of this year” and that the companies also wanted to file their “corporate establishment applications” before 2022 is out.
Some of South Korea’s biggest securities players have already expressed their desire to...
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