OKX Ventures and Korea Investment agreed to buy a combined $106 million stake in South Korea’s Coinone exchange.
South Korean crypto exchange Coinone announced that OKX Ventures and Korea Investment & Securities (KIS) have agreed to jointly acquire a 19.6% stake in the platform for a combined 160 billion won ($106 million), split evenly between the two buyers at roughly $53 million each.
The transaction combines secondary share purchases from existing holders with the issuance of new shares. Coinone CEO Myung-Hun Cha is expected to remain the largest shareholder and retain management control, while OKX Ventures and KIS would become joint third-largest shareholders, behind Cha and existing backer Com2uS Holdings. The deal remains subject to regulatory approval.
OKX said the investment reflects its focus on "compliant, well-regulated infrastructure." KIS said it plans to collaborate with Coinone on security token offerings and stablecoin-related services as South Korea advances rules covering tokenized finance. The announcement confirmed reports earlier in May that OKX was in talks with KIS to acquire approximately a 20% stake in the exchange, which OKX had declined to comment on at the time.
The deal gives OKX Ventures direct exposure to one of Asia's most tightly regulated crypto markets, where local licenses and established compliance records carry significant weight. South Korea's Virtual Asset User Protection Act, which took effect in 2024, imposed stricter Anti-Money Laundering and transaction-monitoring requirements on exchanges including Upbit, Bithumb, Coinone and Korbit. Regulators are preparing a second legislative phase covering stablecoins and tokenized securities.
South Korean regulators have also been gradually opening the door to greater institutional and corporate participation in digital assets, creating new pathways for traditional financial firms. That trend has drawn several large players into the market. In February, Mirae Asset Consulting agreed to acquire a 92.06% stake in Korbit for 133.48 billion won (approximately $93 million).
This month, Hana Financial Group said it plans to invest about 1.003 trillion won ($668 million) to acquire a 6.55% stake in Dunamu, the operator of Upbit. The clustering of deals signals accelerating institutional consolidation across South Korea's licensed exchange sector as traditional finance firms move to establish positions ahead of the next regulatory phase.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
