Samsung Securities to Launch Crypto Exchange In South Korea

Samsung is planning to launch its own crypto exchange in South Korea as early as next year. The tech giant will launch the crypto exchange via its subsidiary, Samsung securities.

Samsung securities describes itself as "Korea's leading financial investment company offering a wide range of services, from stock brokerage to asset management, corporate finance, and proprietary trading".

Samsung Securities is conducting a study on how to enter the blockchain-based security token business. At the end of last year, the company tried to find the manpower to take charge of the development and operation of the security token trading platform, and the development of blockchain smart contracts, but were unable to find employment.

Furthermore, seven large domestic securities companies have applied for preliminary approval and establishment of a corporation from the financial authorities for the establishment of a virtual asset exchange in the first half of next year.

Source: DAILYCOIN