South Korea’s Samsung Electronics may launch its own cryptocurrency exchange next year, Market Watch reports citing local media.
Samsung is one of seven South Korean companies that recently submitted applications to regulators for the licenses needed to set up a cryptocurrency exchange. Other companies include Mirae Asset Securities Co., one of the country’s largest stock brokers.
According to South Korean media, Samsung expects to create a new exchange in the first half of 2023.
This is not Samsung’s first move toward the cryptocurrency market. Earlier this year, the company added a cryptocurrency wallet feature to its Galaxy series of smartphones.