The global cryptocurrency landscape is shifting rapidly, and South Korea’s leading digital asset platforms are at the forefront of this transformation. Upbit, Coinone, and Bithumb—South Korea’s three major crypto exchanges—are making strategic moves to expand their operations overseas, targeting key jurisdictions like Singapore, the United States, and Malta. These expansions reflect a broader trend of market diversification amid evolving domestic regulations and increasing international demand for compliant blockchain infrastructure.
With over 8% of its 50 million population actively participating in cryptocurrency trading, South Korea ranks as the third-largest crypto market globally. The cultural impact is evident—even mainstream media like the blockbuster film Along with the Gods have referenced Bitcoin. As regulatory clarity emerges domestically, these exchanges are proactively positioning themselves in markets with favorable legal frameworks and strong institutional support.
👉 Discover how global crypto regulations are shaping exchange strategies in 2025.
Bithumb Enters U.S. Market with Regulated Security Token Platform
Bithumb, South Korea’s largest cryptocurrency exchange by trading volume, has set its sights on the United States through a strategic partnership with Seriesone, a U.S.-based FinTech firm. Together, they are launching a joint venture to establish a new digital asset trading platform focused on security tokens—digital assets that represent ownership in real-world financial instruments such as stocks or bonds.
This move is particularly significant because the platform has reportedly secured preliminary approval from key U.S. regulatory bodies, including the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Such compliance underscores a growing shift toward regulated crypto innovation in the U.S., where oversight has become increasingly defined compared to earlier years of ambiguity.
The United States remains one of the most attractive destinations for Initial Coin Offerings (ICOs) and blockchain startups. In just the first five months of 2025, more than 56 ICOs raised over $1.1 billion in the U.S. alone. The SEC has also clarified that certain crypto transactions fall within its jurisdiction, offering businesses clearer guidelines for legal operation. For Bithumb, entering this regulated ecosystem enhances credibility and opens access to institutional investors seeking compliant digital asset exposure.
Upbit Launches in Singapore to Tap Southeast Asia’s Growing Crypto Hub
Meanwhile, Upbit—the exchange operated by Dunamu Inc.—has officially launched its international arm in Singapore, establishing a fully licensed digital asset trading platform. Initially supporting only the Singapore Dollar (SGD) as fiat on-ramp, the exchange plans to gradually integrate additional currencies to facilitate cross-border trading across Southeast Asia.
Singapore has emerged as a leading blockchain innovation hub in Asia, rivaling Hong Kong and Japan in regulatory sophistication and financial infrastructure. In line with its pro-innovation stance, the Monetary Authority of Singapore (MAS) introduced comprehensive Guidelines on Digital Token Offerings back in 2017, which continue to evolve. These rules clarify legal boundaries for ICOs, anti-money laundering (AML) compliance, cross-border operations, and regulatory sandbox programs.
In 2025 alone, over 56 ICOs were conducted in Singapore—surpassing the total number recorded in 2017 (35)—demonstrating rapid growth in blockchain entrepreneurship. By choosing Singapore, Upbit gains access to a stable, English-speaking financial center with strong ties to both Asian and global markets.
👉 Learn how Asian markets are driving next-generation crypto adoption.
Coinone Establishes Presence in Malta Amid Pro-Crypto Regulatory Reforms
Coinone is expanding into Malta, one of the world’s most crypto-friendly jurisdictions. The new Maltese exchange will share order books with Coinone’s existing Bitcoin market, ensuring high liquidity for users. It will also integrate services across Coinone’s regional platforms in South Korea and Indonesia, creating a seamless trading experience for international investors.
Malta earned its reputation as the “Blockchain Island” after passing three landmark blockchain-related laws in July 2025:
- The Virtual Financial Assets Act (VFAA)
- The Malta Digital Innovation Authority Act (MDIA)
- The Innovative Technology Arrangements and Services Act (ITAS)
These legislative advancements position Malta as a pioneer in establishing a complete legal framework for cryptocurrencies, ICOs, smart contracts, and decentralized technologies. The government actively collaborates with private firms to foster innovation while maintaining investor protection and financial integrity.
According to a recent report by Fabric Ventures, small EU nations like Malta and Gibraltar are becoming fast-rising centers for blockchain investment. In 2025, these two jurisdictions collectively raised nearly $300 million in ICO funding—rivaling Switzerland’s $556 million despite their smaller size.
Global Regulatory Trends Shaping the Future of Crypto
While national approaches to cryptocurrency regulation vary widely—from strict bans in some countries to full integration in others—there is growing momentum toward international coordination. The Financial Action Task Force (FATF), an intergovernmental body focused on combating money laundering and terrorist financing, announced it will release its first set of global cryptocurrency regulatory standards by June 2025.
These unified guidelines aim to standardize how countries supervise crypto exchanges, wallet providers, and cross-border transfers. Key areas include Know Your Customer (KYC) enforcement, transaction monitoring, and licensing requirements. Once implemented, these rules are expected to bring greater stability and legitimacy to the global crypto market.
For exchanges like Upbit, Coinone, and Bithumb, early international expansion not only mitigates domestic regulatory risks but also positions them as global players in a maturing industry. Their choices—Singapore for Asian reach, the U.S. for institutional depth, and Malta for regulatory clarity—highlight a strategic alignment with long-term compliance and scalability.
Frequently Asked Questions (FAQ)
Q: Why are South Korean crypto exchanges expanding overseas?
A: Due to tightening domestic regulations and market saturation, South Korean exchanges are seeking growth in jurisdictions with clearer legal frameworks and higher institutional participation.
Q: Is Bithumb’s U.S. platform regulated?
A: Yes, Bithumb’s joint venture with Seriesone has received preliminary approval from the SEC, FINRA, and other U.S. financial regulators, making it one of the most compliant foreign-backed platforms in America.
Q: What makes Singapore attractive for crypto businesses?
A: Singapore offers political stability, strong financial infrastructure, English as an official language, and proactive regulation via MAS—making it ideal for blockchain startups and exchanges.
Q: How does Malta support blockchain innovation?
A: Through comprehensive legislation like the VFAA and MDIA acts, Malta provides legal certainty for crypto firms while promoting innovation through government-backed sandboxes and incentives.
Q: Will global crypto regulations affect exchange operations?
A: Yes. The upcoming FATF guidelines will require exchanges worldwide to adopt stricter KYC/AML measures, potentially increasing compliance costs but improving overall market trust.
Q: Can users from other countries trade on these new platforms?
A: Most of these international exchanges allow global access after identity verification, though some restrictions may apply based on local laws.
👉 See how top-tier exchanges are adapting to global compliance demands.
As South Korea’s leading crypto platforms establish footholds abroad, they signal a new phase in the industry’s evolution—one defined by regulation, interoperability, and sustainable growth. With strategic entries into Singapore, the U.S., and Malta, Upbit, Coinone, and Bithumb are not just surviving regulatory shifts—they’re helping shape the future of digital finance.