Kiwoom to buy stake in South Korea’s Bithumb

Kiwoom Securities is in talks to buy an equity stake in Bithumb, one of South Korea's largest cryptocurrency exchanges. The discussions are ongoing and neither firm has confirmed a deal.

The proposed investment would give Kiwoom a direct position in a local crypto trading platform and could connect the brokerage's retail and institutional clients with Bithumb's exchange infrastructure and user base. Kiwoom has expanded services beyond traditional brokerage in recent years.

Bithumb has been among the country's largest exchanges by trading volume. The platform has changed ownership multiple times and has undertaken efforts to strengthen compliance and security following past incidents that drew regulatory attention.

South Korean regulators have tightened rules for virtual-asset service providers, including stricter anti-money-laundering measures and registration requirements. Exchanges must meet standards on customer verification and transaction monitoring; any investor would need to assess those obligations during due diligence.

Deals between traditional financial firms and crypto platforms have become more common in South Korea as brokerages and banks expand services for clients interested in digital assets. For Bithumb, outside investment could support product development and broaden services. For Kiwoom, a stake in an exchange could add trading venue access and custody or technology capabilities.

No financial terms, stake size or timetable for a transaction have been disclosed. People familiar with the discussions say talks are continuing and that the parties are reviewing regulatory, financial and operational matters before any binding agreement.