Korean cryptocurrency exchanges are moving swiftly to secure high-net-worth and institutional clients ahead of the full legalization of corporate investments. The Financial Services Commission is promoting amendments to the Enforcement Decree of the Virtual Asset Act, which are expected to significantly simplify account setup and tax reporting for corporations starting in the second half of this year.
In response, Upbit and Bithumb have launched dedicated institutional teams and announced a series of tailored services. Upbit has introduced the “Upbit Institutional” brand, offering custody, OTC trading, and research reports for corporate clients. Bithumb has also formed a specialized team to expand VIP concierge services, large-transaction support, and exclusive platforms. Coinone and Gopax are likewise developing dedicated accounts and asset management products for wealthy clients, intensifying competition.
According to industry sources, Upbit has prepared to secure over 1 trillion won in institutional deposits, while Bithumb is targeting approximately 3,000 corporate clients. The total assets under management by institutional clients across Korea’s four major exchanges are projected to exceed 20 trillion won. A spokesperson from one exchange said, “Institutional client inflows will be a core driver of revenue diversification. We are concentrating resources on advanced services and infrastructure.”
Experts believe that institutional participation could increase liquidity in the crypto market and strengthen trust in regulated trading. However, some caution that the influx of large-scale funds will require stronger AML (anti-money laundering) controls and audit frameworks. Financial regulators stated, “We will establish separate monitoring standards and regulations for institutional virtual asset accounts.”
As the institutional market takes shape, Korea’s cryptocurrency ecosystem—historically dominated by individual investors—is expected to diversify rapidly. The battle among exchanges to attract high-net-worth clients is emerging as the biggest competitive issue for the second half of the year.
