South Korean brokerage Kiwoom Securities is reportedly in talks to buy a stake in Bithumb, making it the latest traditional financial firm in the country to seek exposure to a local crypto exchange.

The two companies are reportedly discussing a third-party allotment of new shares that would allow Kiwoom Securities to acquire new shares issued by Bithumb, Chosun Biz reported on Monday.

Cointelegraph contacted Kiwoom Securities and Bithumb for comment on the reported talks.

The development makes Kiwoom Securities the latest traditional finance (TradFi) company to seek entry into the crypto markets as South Korea’s Financial Services Commission (FSC) prepares to announce new regulatory reforms in July, including a framework for tokenized…