TLDR
- Kiwoom Securities is reportedly discussing a third-party share allocation to buy new Bithumb shares directly.
- Bithumb said no specific matters have been decided while partnership discussions continue with financial institutions.
- Traditional finance firms are targeting Korean crypto exchange stakes as digital asset rules develop locally.
- Potential ownership limits remain under discussion within South Korea’s proposed Digital Asset Basic Act framework.
- Bithumb is already preparing for an IPO process with advisory work reportedly running through 2027.
Kiwoom Securities is reportedly pursuing a stake acquisition in Bithumb, South Korea’s second-largest cryptocurrency exchange by trading volume. According to local media reporting, the discussions involve a third-party allocation of new shares issued by Bithumb. Under that structure, Kiwoom would purchase newly created shares rather than acquiring existing shares from current holders.
The investment size and final ownership percentage have not been disclosed, as negotiations are still said to be ongoing. A third-party share allocation could provide Bithumb with fresh capital while giving Kiwoom direct exposure to South Korea’s crypto exchange market. The reported talks come as traditional financial institutions examine digital asset businesses under changing local regulatory conditions.
Bithumb said that no specific matters had been reviewed or decided at this stage. The exchange said it is discussing potential partnership opportunities with various financial institutions and companies. Kiwoom had not provided an immediate response in the supplied report.
Korean Finance Firms Increase Crypto Exchange Interest
Kiwoom’s reported move follows wider activity among South Korean financial groups seeking positions in local digital asset platforms. Hana Bank previously disclosed plans to acquire a $670 million stake in Dunamu, the operator of Upbit. Local reports also said three Samsung subsidiaries planned to acquire about $407.7 million in Dunamu shares.
Other financial and crypto firms have also shown interest in Korean exchange operators during recent months. OKX Ventures announced plans to purchase a 19.6% stake in Coinone, while Binance completed its acquisition of Gopax after regulatory delays. These transactions show rising institutional attention toward licensed crypto exchange businesses in South Korea.
Kiwoom has already been building digital asset ties through the Korea Digital Exchange consortium, also known as KDX. The group includes the Korea Exchange, Kyobo Life, and KakaoPay Securities. Its work has focused on developing a regulated platform for stable digital asset trading.
Regulation and IPO Plans Shape Bithumb Talks
South Korea is working on the Digital Asset Basic Act, a proposed framework for crypto market regulation. The legislation has faced delays, although lawmakers are reportedly aiming to advance discussions in the second half of the year. One proposal under review may limit single-shareholder ownership in crypto exchanges to 20%, with up to 34% allowed in certain cases.
Bithumb is also preparing for an initial public offering, according to the supplied report. The company signed an IPO advisory agreement with Samjong KPMG that runs through the end of 2027. Chief Financial Officer Jeong Sang-gyun reportedly said in April that the listing would likely take place in 2028.
The exchange has continued business development despite operational challenges described in earlier reports. In February 2026, Bithumb reportedly experienced an internal system error involving phantom Bitcoin balances, which affected market confidence and delayed its IPO schedule. In March 2026, Bithumb signed a memorandum of understanding with SSI Digital to explore a local digital exchange in Vietnam.
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