Korean Securities Broker Inks Deal with Local Bitcoin Exchange

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

AccessTimeIconApr 18, 2016 at 8:29 p.m. UTC
Updated Sep 11, 2021 at 12:14 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


Read more about