Samsung working on developing a crypto-exchange in South Korea

Together with other members of the Korea Financial Investment Association, Samsung is planning to launch its own cryptocurrency exchange.

So far, the number of individuals involved in the creation of the cryptocurrency exchange has not been revealed. Only the company Asset Securities is known. Most likely, if analysts and people close to them are to be trusted, classic brokers are participating in the creation.

A launch is planned for next year. Samsung Securities is reportedly conducting research to help it decide how to enter the blockchain business via securities tokens. Last year, Samsung tried to hire employees to develop and operate the platform.

Despite the apparent easing of restrictions, South Korean authorities have targeted several cryptocurrency exchanges for offenses. Last week, authorities took measures against 16 unregistered exchanges operating in the country.

In recent months, authorities have also prosecuted Terraform Labs, the South Korean company which was behind the collapsed stablecoin Terra.