Samsung is preparing to launch a crypto exchange platform in 2023 | TechNave

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After launching the Blockchain Wallet, Samsung could be preparing to introduce a cryptocurrency exchange platform Next year. The Korean tech giant has shown great interest in the crypto market, and this is only the second step in its rise to the top in South Korea.

According to the source, when the country was under former President Moon Jae-in, new cryptocurrency regulations enforced by the Financial Intelligence Unit (FIU) caused over 60 crypto-related businesses to shut down. cryptography. The country’s new leader, President Yoon Suk-yeol, is now encouraging domestic businesses and investors to invest more in cryptocurrencies and virtual assets.

Since there is a huge gap for the initiative to fill, Samsung has seized the opportunity by creating its own platform. However, besides Samsung, no less than seven securities firms have also reportedly applied for preliminary approval to launch crypto exchange platforms. These companies plan to support exchanges for all major cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH). Many of them are also interested in non-fungible tokens (NFTs).

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