Samsung to Establish Its Own Crypto Exchange in 2023

Following the arrival of South Korea’s new president, the country has become more pro-crypto.

Samsung to Establish Its Own Crypto Exchange in 2023

South Korean securities companies such as Mirae Asset Securities and Samsung Securities claimed that they will focus on the plan of the crypto industry and aim to launch digital asset exchanges in 2023.

According to local media, Samsung is not the only major company in the country that wants to take a new step in the crypto world. Another seven large domestic securities companies intend to establish digital assets. They have applied for preliminary approval and corporation establishment from the financial authorities.

“Currently, discussions necessary for the establishment are being finalized,” stated an official from one of the securities firms.

Furthermore, Samsung has launched several digital asset initiatives. The firm has developed a wallet function for its Galaxy line of smartphones, a TV that supports Non-Fungible Tokens (NFTs), and Cardano exposure (ADA).

As Yoon Suk-Yeo, the new South Korean president, took office in May, South Korea has become more pro-crypto. This politician is a crypto enthusiast and has promised to raise the limit on the non-taxation of profits from investments in digital assets.

Share Tweet Send
You've successfully subscribed to CCnews24
Great! Next, complete checkout for full access to CCnews24
Welcome back! You've successfully signed in
Success! Your account is fully activated, you now have access to all content.