Skip to content
- Kiwoom is negotiating a Bithumb stake before its 2028 IPO.
- Bithumb says no final deal has been approved yet officially.
- South Korea’s crypto rules may reshape exchange ownership limits soon.
As the cryptocurrency exchange follows the roadmap to a planned initial public offering in 2028, Kiwoom Securities is rushing to acquire a stake in Bithumb. The talks come as a sign of rising enthusiasm from South Korea’s traditional financial industry in the field of digital asset enterprises, in preparation for expected regulatory changes.
Kiwoom Securities and Bithumb are reportedly talking about third-party allocation of newly issued stocks.Kiwoom Securities and Bithumb are reportedly talking of a third-party allocation of newly issued stocks. Bithumb would also provide new shares for Kiwoom under a strategic investment if it goes through.
The companies have yet to finalize the transaction. Talks continue on the amount of money to be invested and the percentage of ownership by Kiwoom. Bithumb stated that there hasn’t been a specific agreement yet. The exchange, however, is looking for partnership options with multiple financial institutions and corporations.
Also Read: Chainlink Records Strongest Network Growth of 2026 With 6,182 New Wallets
Bithumb advances IPO strategy with institutional backing
The investment talks come as Bithumb is gearing up for its planned listing on the stock exchange. The exchange signed an IPO advisory contract with Samjong KPMG, which will run until the end of 2027. Further, in April, Bithumb CFO Jeong Sang-gyun stated that the firm will plan to go public in 2028. Kiwoom’s strategic investment may further bolster Bithumb’s financial strength ahead of the event.
The discussions also indicate that a wider participation in the South Korea’s crypto industry has been taking part in the respective institutions. Over the past few months, traditional finance companies have been investing in digital asset companies in a progressive manner.
Recently, Hana Bank has announced plans to acquire $670 million of the shares of upbit’s parent company Dunamu. Additionally, three of Samsung’s subsidiaries reportedly agreed to acquire nearly $407.7 million in Dunamu shares, which would give them a 4% stake in the company. Foreign companies are also now entering the fray. In May, OKX Ventures revealed its intention to buy a 19.6% stake in the Coinone. Binance also inked a deal for the acquisition of Gopax, after years of regulatory delays.
Regulatory changes remain in focus
The South Korean lawmakers are still finalizing the Digital Asset Basic Act, which is designed to create a comprehensive legal framework for the cryptocurrency industry. Legislators are expected to pick up discussions again this year in the second half, though progress was slow earlier in the year. The proposal that is being considered is, in general, to keep a single shareholder from holding more than a 20% interest in a cryptocurrency exchange. However, the regulators can allow concentration up to 34% on certain terms.
Kiwoom’s reported interest in Bithumb places the exchange’s planned 2028 IPO at the center of South Korea’s expanding institutional investment trend. A successful deal would further strengthen Bithumb’s public listing strategy while reinforcing traditional finance’s growing role in the country’s digital asset market.
Also Read: SecondFi Targets Two-Week Recovery Plan After Recent Security Incident
