Samsung Securities may soon compete with cryptocurrency exchange behemoths with its own platform, which could launch as early as the first half of 2023.
According to reports, the South Korean technology behemoth has already begun the paperwork for the planned launch. It comes after a failed attempt to launch a trading platform in 2021 due to a lack of resources at the time. Samsung isn’t the only company looking to break into this market; at least seven other companies in South Korea have been reported to be interested in crypto exchanges, according to local media reports. The increased interest in cryptocurrency exchange platforms comes after South Korea’s new president, Yoon Suk-Yeol, expressed support for industry regulation.
