Korean Securities Broker Inks Deal with Local Bitcoin Exchange

Apr 18, 2016 at 21:29 UTC
Updated Apr 18, 2016 at 22:47 UTC
NEWS

A major Korean securities broker and dealer has begun working with a local bitcoin exchange, moving closer to allowing access to the digital currency for its customer base.

Business Korea reports that Daishin Securities Co. has signed a memorandum of agreement with Coinone, based in Seoul, to open up exchange services between bitcoin and the won. Daishin clients can also use bitcoin as a deposit option for the broker’s services.

Beyond the integration between the two firms, the memorandum reportedly outlines plans to develop blockchain applications for stock services.

Founded in the 1960s, Daishin operates 84 branches within Korea, with subsidiaries in China and Japan. As of May 2013, investors had paid in roughly KRW 434.8m, or $380m, in capital, according to its website.

Coinone’s bitcoin exchange saw 309.8 BTC in 24-hour volume, according to data from Coinhills.com.

Image via Shutterstock

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