Global Financial Firms Speed Up Crypto Monetization... Mirae Asset Also Takes First Step in Hong Kong [Crypto Briefing]

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[Financial News] Traditional financial institutions that had kept their distance from virtual assets because of legal uncertainty are rapidly pivoting to a 'crypto business' aimed at generating revenue. Moving beyond simple proof-of-concept (PoC) testing, they are accelerating efforts to build an end-to-end value chain that includes tokenized fund issuance, custody, and derivatives. Another point to watch is the spread of 'Digital Asset Treasury (DAT),' in which companies hold Bitcoin as part of their treasury strategy.
According to foreign media and industry sources on the 27th, blockchain revenue models in traditional finance are increasingly taking shape in two directions: tokenization revenue and crypto revenue.
In the tokenization model, BlackRock's BUIDL fund, which issues and manages real-world assets on a blockchain-based platform, is a representative example. It aims to generate infrastructure fees on the issuance side while also improving operational efficiency. Korbit Research Center said the tokenization market depends on the alignment between the needs of target investors and the revenue model.
In particular, traditional financial institutions are now expanding beyond simple trading into institutional custody and crypto derivatives. As major exchanges such as NASDAQ Stock Market (NASDAQ) and New York Stock Exchange (NYSE) move to integrate tokenized assets into their existing order books, this is seen as a factor that could help address the chronic liquidity shortages that have long plagued the virtual asset market.
Domestic securities firms are also joining the trend. Mirae Asset Securities' Hong Kong unit recently received final approval from the Securities and Futures Commission of Hong Kong (SFC) for its Hong Kong digital asset retail license, known as the VA License Uplift. It plans to launch a Mobile Trading System (MTS) in June and offer retail services that integrate stocks, bonds, and digital assets for individual investors in Hong Kong. Mirae Asset Securities aims to build a new investment ecosystem that connects traditional assets with digital assets. Starting with its Hong Kong business, the company plans to expand its digital asset operations to major global financial markets such as the USA and Singapore, further strengthening its platform competitiveness for global retail investors.
The trend of companies holding Bitcoin as part of their treasury strategy, or DAT, is also becoming more pronounced. Major companies at home and abroad have begun adding Bitcoin to their balance sheets to hedge inflation and diversify assets. In the case of Strategy, its Bitcoin holdings exceeded 810,000 as of this month. DAT companies generate revenue from valuation gains tied to price fluctuations in their holdings as well as gains from asset sales.
NH Investment & Securities Research Division predicted that competition over tokenization standards will intensify depending on the policy direction of the Trump administration. It expects fierce competition among financial institutions over the next few years as they race to secure tokenization issuance and distribution infrastructure.
Experts, however, agree that differences in regulation by country and the need to secure technological privacy will remain key variables for market expansion.
A blockchain industry official said, "If privacy and data governance issues are not resolved, the market could become fragmented," adding, "In particular, for Korea's financial sector, it is more important to establish a mid- to long-term strategy based on global standards than to focus on short-term results."
elikim@fnnews.com Kim Mi-hee Reporter