Ethereum Institutional co-founder Matthew Dawson has made his first visit to South Korea, where he met with major local banks, securities firms, asset management companies and exchanges, according to Yonhap News Agency. The trip was aimed at forming cooperative relationships with Korean financial institutions and market participants.
Dawson said South Korea has both strong financial institutions and a well-developed developer community, which gives it the capacity to make full use of blockchain infrastructure. He also pointed to the recent direction of tokenized securities policy released by the country’s Financial Services Commission, or FSC, saying it creates a favorable moment for partnership discussions.
He added that while Korean institutions may begin with private blockchains, he expects them to eventually upgrade to public blockchain networks. In his view, Ethereum is well suited to carry core institutional assets because of its security, liquidity and neutrality. On expansion plans, Ethereum Institutional said it expects to bring in a head of Asia within six to seven weeks and hire technical, business and advisory staff in Hong Kong, South Korea and Japan.
Ethereum Institutional co-founder Matthew Dawson has made his first visit to South Korea and held meetings with major local banks, securities firms, asset management companies and exchanges to establish cooperative relationships, according to Yonhap News Agency.
South Korea seen as a key market for institutional engagement
Dawson said South Korea has strong financial institutions and a robust developer community, giving it the ability to make full use of blockchain infrastructure. He also said the recent policy direction on tokenized securities released by the Financial Services Commission, or FSC, has created a good opening for cooperation.
Expectation of a shift from private chains to public blockchains
He said Korean institutions are currently starting with private chains, but he expects them to eventually move to public blockchain networks. Dawson argued that Ethereum stands out as infrastructure for core institutional assets because of its security, liquidity and neutrality.
Asia expansion plans in the coming weeks
On organizational growth, Ethereum Institutional plans to appoint a head of Asia within six to seven weeks and recruit technical, business and advisory talent in Hong Kong, South Korea and Japan.
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