South Korea's Daesin Securities Partners with Local Bitcoin Exchange

Rage Review : Daishin Securities Co., a large Korean stock exchange, has cooperated with a local Bitcoin exchange, which means that customers can make Bitcoin deposits through intermediary services. The two companies signed a memorandum of contract and formulated an outline plan for the development of blockchain applications for stock services. This means that the scope of Bitcoin business has expanded again.

Translation: Nicole

A major South Korean securities dealer has begun working with a local bitcoin exchange to make it easier for local customers to use digital currencies.

According to Business Korea, Daishin Securities Co. has signed a memorandum of agreement with Seoul-based Coinone to open a Bitcoin-Korean won exchange business. Daishin Securities customers can make deposits in Bitcoin.

In addition to marking the collaboration between the two companies, the memorandum of agreement also outlines plans to develop blockchain applications for stock services.

Daishin Securities, founded in 1960, has 84 branches in South Korea and subsidiaries in China and Japan. According to its website, investors had invested about 403.48 million won or 308 million won in May 2013.

Data on Coinhills.com shows that Coinone’s Bitcoin has witnessed 309.8 Bitcoin trading volume in the past 24 hours.