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

UTC by Anisha Pandey · 2 min read
SBI Digital Markets Appoints Jai Yung Byun to Bolster Its South Korean Presence
Photo: SBI

Byun has been consulting SBI Digital Markets since 2023, so his association with the company is not new.

The cryptocurrency arm of Japanese banking giant SBI Holdings, SBI Digital Markets, has taken a major step towards strengthening its foothold in South Korea. As per Wednesday’s announcement, the company has appointed Jai Yung Byun as its principal consultant.

Byun is a seasoned professional with a robust background in South Korea’s financial market. He previously oversaw foreign exchange analysis and international policy planning at the country’s central bank, the Bank of Korea.

Byun’s appointment is a clever move by SBI Digital Markets to expand its services in the South Korean market. With this new role, the company “aims to deliver solutions at the highest institutional-grade governance standards to safeguard its institutional investors and issuers.”

Byun’s Ties with SBI

Byun has been consulting SBI Digital Markets since 2023, so his association with the company is not new. Before joining SBI, Byun worked for Northern Trust as the country manager for South Korea, where he developed close ties with financial institutions in the nation’s public and private sectors. Winston Quek, CEO of SBI Digital Markets, stated, “His vast experience and deep understanding of the Korean market will be invaluable as we continue to expand our presence and offerings in the region.”

“Mr. Byun’s appointment underscores our commitment to delivering excellence and driving growth in Korea, APAC, and beyond,” Quek adds.

Byun’s popular book “Foreign Exchange Management in the Global Era” (2011) demonstrates his in-depth knowledge of global finance and economics. Additionally, he has had adjunct professorships at renowned Seoul universities.

Growth of SBI Digital Markets in Asia

Since its founding in 1999, SBI Holdings has expanded into a well-known financial giant with more than 50 million clients worldwide. A recent report by its crypto division revealed that nearly 60% of Asian institutional investors had gained exposure to digital assets over the past year. This increasing demand has motivated SBI to solidify its presence among Asian crypto investors.

SBI Digital Asset Holdings has established partnerships with several companies, including Securitize, Ripple, R3, B2C2, and Elliptic. These partnerships have facilitated the company’s business operations in Thailand, South Korea, Hong Kong, Malaysia, and Cambodia.

In Japan, SBI Digital Asset Holdings partnered with Chiliz to set up a joint venture in May. Additionally, the group collaborated with Circle in November 2023 to promote the adoption of the USDC stablecoin in the country.

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