"Mirae Asset Securities Considers Establishing Dedicated Structure for Virtual Assets... Possibility of Advancing into Custody and PBS"

Mirae Asset Securities is reportedly reviewing the establishment of a separate organization to operate its virtual asset (cryptocurrency) business independently.

According to the industry on the 29th, Mirae Asset Securities is said to be discussing the plan to convert its in-house Digital Asset Solutions Team into an independent entity or a dedicated organization. This team was launched as the 'Digital Asset TF' in 2022 and has since been responsible for building technical infrastructure and formulating strategies, with both virtual assets and token securities (STO) as its two main pillars.

Meanwhile, as the political community and financial authorities are shifting toward deregulation by introducing spot Bitcoin exchange-traded funds (ETF) and allowing pilot trading by institutional investors, expectations for the custody and prime brokerage (PBS) markets are also growing. There is speculation that Mirae Asset Securities may restructure its organizational system with a view to entering the custody business as well.

On the other hand, there are observations that token securities (STO) are likely to be handled by existing business units within the securities company rather than a separate organization, since business operations are possible within the frameworks of the Capital Markets Act and the Electronic Securities Act. In fact, it is reported that last year, Mirae Asset Securities proactively secured STO infrastructure by building its own mainnet and achieving considerable progress in integrating with its Mobile Trading System (MTS).