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Finance

Brokerages cut domestic branches and step up global push

South Korean brokerages are accelerating overseas expansion as mobile trading prompts further streamlining of domestic branches. As of end-2025, 16 firms operated 93 overseas outlets, up by 13 from a year earlier, while overseas subsidiaries’ net profit rose 67.8 percent. Domestic branches at the top 10 brokerages slipped to 438 as of March 31. Firms are widening foreign omnibus account services and building networks across the United States, Hong Kong, Southeast Asia and India.

Industry

SpaceX shares slide 30 percent; short interest jumps from 8 percent to 13 percent in a day

Short sellers targeting SpaceX are increasing rapidly as the stock falls nearly 30 percent in a short period. Short interest jumped to 13 percent from 8 percent in a day, data showed, with early trading touching 14 percent. Other data suggested about 40 million shares are shorted. Improved share-lending conditions and low borrowing costs are cited as drivers. Options markets also reflect downside expectations, though short sellers face risks if buying resumes.

Crypto

Galaxy Ventures leads investment in high net worth credit card startup Karta

Crypto investment firm Galaxy Ventures led a $15 million Series A funding round for Karta, a premium credit card issued in the United States and distributed through more than 80 global private banks and brokerages. Karta aims to combine stablecoin infrastructure and AI to offer a differentiated experience for high net worth clients, particularly those lacking a U.S. Social Security number or taxpayer identification number. Galaxy Ventures said Karta’s revenue and payment volume surged in 2025 and grew again in early 2026.