Banks and brokerages step up competition for exchange stakes ahead of won stablecoins
Amid discussions on institutionalizing won stablecoins, competition among banks and securities firms to secure stakes in crypto exchanges is intensifying. Korea Investment & Securities and OKX Ventures jointly 3became major shareholders.
Major domestic banks and securities firms have begun to move in earnest to secure stakes in crypto exchanges. These financial institutions are targeting areas including security tokens (STO), stablecoins and custody services, 3areas. Some institutions have shifted their strategy from MOU-stage discussions to equity investments.
Korea Investment & Securities and OKX Ventures participated in Coinone as strategic investors. The two parties jointly 3became major shareholders. The investment 5was disclosed as having taken place at the end of the month.
As discussions on the introduction of won stablecoins advance, the value of stakes in virtual asset service providers (VASPs) is coming into focus. Institutions are investing in anticipation of synergies in won-denominated payments and custody businesses. In this process, domestic and international crypto companies have also become more active in entering the domestic market.
With multiple financial institutions participating, competition to acquire exchanges and secure stakes has spread across the exchange industry. Some exchanges have publicly disclosed partnerships with securities firms as strategic partners. Overseas investors are also increasing their stakes in domestic exchanges.
The market considers STOs, stablecoins, and custody to be core areas of business models. Institutions are pursuing equity investments to respond to regulations and secure payment infrastructure. Changes in exchange ownership structures are continuing.
Recent investment cases, together with discussions on institutionalization, have made moves to restructure exchange ownership more visible. Competition between financial institutions and global cryptocurrency companies is unfolding simultaneously. Related disclosures and news of additional investments are continuing.