Korea's Institutions Battle for Control of Crypto Infrastructure Ahead of Regulation

South Korea's crypto market is entering a new phase of institution-led restructuring, as banks, brokerages, card companies and fintech firms move beyond headline-grabbing MOUs and begin competing for control of the infrastructure that could define the next regulated era of digital assets. In a recent report, Tiger Research said domestic players are now fighting on three main fronts—'stablecoins', 'security token offerings (STOs)', and 'custody'—while a parallel battle is unfolding over exchange ownership.