Korea Exchange is planning to introduce crypto-linked derivatives as part of its effort to make Busan a major global centre for finance and digital asset trading.
KRX Chairman Jeong Eun-bo announced the plan at the exchange’s 30th anniversary for the derivatives market. He said the exchange will push for digital asset-based derivatives as soon as regulations allow them in South Korea.
Right now, South Korean law does not allow cryptocurrencies as underlying assets for ETFs or derivatives. But regulators have recently shown a more flexible attitude as there is growing pressure to update the country’s digital asset rules.
The exchange believes that crypto-linked financial products could help make Busan a stronger global financial centre and attract international investors and blockchain companies.
South Korea already has one of Asia’s busiest derivatives markets, and officials see digital assets as the next step in its growth. The country is also working on the delayed Digital Asset Basic Act, which will set future rules for cryptocurrencies and stablecoins.
Although the timeline is still unclear, this proposal shows that traditional exchanges are increasingly interested in the growing crypto economy.
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