Samsung submits application to open crypto exchange in Korea

According to local newspaper NewsPim, August 22, seven companies including Samsung have prepared the first steps to open their own cryptocurrency exchanges in the second half of 2023.

According to the above source, companies have begun applying for preliminary approvals and establishing subsidiaries to operate digital asset exchanges.

In which, Samsung and Mirae are two of the above 7 companies. Mirea has established a subsidiary under the name Mirae Consulting and hired staff in the crypto space and NFT This Korean company is looking to enter the blockchain market. At the end of last year (2021), Samsung did not have enough time to find personnel for building a crypto trading platform.

In May, South Korean President Yoon Suk-Yeol said he would be friendly with the crypto industry and jointly develop new projects. However, the collapse of the stablecoin UST has caused the authorities to become stricter and keep a close eye on exchanges that fail to register properly.

In fact, the traditional conglomerate is looking to enter the crypto market as Yoon relaxes policies in the country.

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