South Korea expands crypto access for 3,500 companies

South Korea is implementing a three-part digital finance program designed to transition its cryptocurrency market from retail-driven speculation to institutional finance. Under a roadmap from the Financial Services Commission, approximately 3,500 entities—including 2,500 listed companies and 1,000 professional investor corporations—will be eligible to open real-name bank accounts linked to crypto exchanges. This pilot program aims to resolve long-standing restrictions that have prevented Korean companies from trading virtual assets through local exchanges since 2017.

The initiative also includes legal recognition for tokenized securities, with laws passed in January set to take effect in February 2027. Additionally, the Bank of Korea has expanded its Project Hangang Phase II trials, increasing the number of participating banks from seven to nine. These trials focus on deposit tokens intended to support government payments, settlement of tokenized assets, and transactions involving autonomous AI agents.