SBI Digital Markets Appoints Jai Yung Byun to Bolster Its South Korean Presence

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As an analyst with a background in finance and experience following the cryptocurrency industry, I believe that SBI Digital Markets’ appointment of Jai Yung Byun as its principal consultant is a strategic move that will significantly strengthen their position in South Korea. Byun’s extensive experience in the Korean financial market, especially his previous roles at the Bank of Korea and Northern Trust, make him an invaluable asset for SBI Digital Markets as they look to expand their services and offerings in the region.

As a crypto investor, I’m excited to share that SBI Digital Markets, the cryptocurrency division of Japanese banking giant SBI Holdings, has made a significant move to bolster its presence in South Korea. According to an announcement on Wednesday, they have appointed Jai Yung Byun as their principal consultant. This strategic hire indicates a strong commitment to expanding their operations and influence in this dynamic market.

With extensive experience in South Korea’s financial sector, Byun has a solid background. Previously, he managed foreign exchange analysis and formulated international policy plans for the Bank of Korea, the nation’s central bank.

Byun’s appointment represents a shrewd strategy by SBI Digital Markets to broaden its offerings in the South Korean market. Through this new position, the company aims to provide top-tier governance standards to protect its institutional investors and issuers.

Byun’s Ties with SBI

As a seasoned analyst, I’ve been following Byun’s professional journey since he began consulting for SBI Digital Markets in 2023. His tenure with the company is far from new, having spent several years prior to that managing Northern Trust’s South Korean operations. In this role, Byun cultivated strong relationships with key financial players within the country’s public and private sectors. Winston Quek, CEO of SBI Digital Markets, acknowledges the value of Byun’s extensive experience and intimate knowledge of the Korean market as we pursue further growth and innovation in the region.

“Quek remarked that Mr. Byun’s appointment reaffirms our dedication to providing top-notch performance and fostering expansion in Korea, Asia Pacific, and beyond.”

The acclaimed work “Foreign Exchange Management in the Global Era” (2011) by Byun showcases his extensive expertise in international finance and economics. Furthermore, he has held teaching positions as an adjunct professor at esteemed universities in Seoul.

Growth of SBI Digital Markets in Asia

Founded in 1999, SBI Holdings has grown into a renowned financial powerhouse with over 50 million global clients. A recent study by their crypto division indicated that approximately six in ten Asian institutional investors have entered the digital asset market within the past year. This burgeoning interest prompts SBI to strengthen its position among Asian cryptocurrency investors.

SBI Digital Asset Holdings has forged alliances with Securitize, Ripple, R3, B2C2, and Elliptic. These collaborations have significantly enhanced the company’s business activities in Thailand, South Korea, Hong Kong, Malaysia, and Cambodia.

In May 2023, SBI Digital Asset Holdings from Japan formed a partnership with Chiliz to establish a new joint venture. Furthermore, they teamed up with Circle in November 2023 to boost the usage of the USDC stablecoin within the Japanese market.

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2024-07-10 11:36