Key Highlights
- OKX Ventures is acquiring a 19.6% ownership position in Coinone, a South Korean cryptocurrency exchange, for approximately $53 million
- Korea Investment & Securities (KIS) is purchasing an equal 19.6% stake for the same $53 million investment amount
- Together, the transactions total 160 billion Korean won (approximately $106 million) and await regulatory clearance
- Coinone’s CEO Cha Myunghun will maintain his position as the platform’s majority shareholder holding 27.8% and retaining operational authority
- This transaction is part of a larger trend including Samsung’s $408 million investment in Dunamu (Upbit’s parent) and Mirae Asset’s 92% acquisition of Korbit
The investment division of international cryptocurrency platform OKX has reached an agreement to acquire a 19.6% ownership stake in Coinone, a prominent South Korean digital asset exchange, in a transaction valued at 80 billion Korean won (approximately $53 million).
Korea Investment & Securities, a leading South Korean financial services firm, is executing a parallel investment of identical size. Upon completion and regulatory approval, both entities will become co-third-largest stakeholders in the cryptocurrency platform.
The dual investment package carries a total valuation of 160 billion won, equivalent to roughly $106 million. The transaction structure involves a combination of purchasing existing shares from current stakeholders and acquiring newly created equity.
Cha Myunghun, who serves as Coinone’s chief executive, will continue as the platform’s primary individual stakeholder maintaining a 27.8% ownership interest. He will also preserve his executive leadership of the organization. Com2uS Holdings, a gaming enterprise, along with its related entities, will maintain a 25% position.
Strategic Rationale Behind OKX’s Korean Market Entry
South Korea represents one of the globe’s most vibrant retail cryptocurrency markets. Netero Dai, who serves as OKX‘s vice president for global markets, described the nation’s regulatory structure as “highly respected globally” and characterized the investment as demonstrating the company’s commitment to compliant financial systems.
This transaction follows Binance’s previous purchase of Gopax, another South Korean exchange. International cryptocurrency platforms have been actively seeking positions in the Korean marketplace as domestic appetite for digital currencies continues to flourish.
Coinone holds one of just five licenses authorized to conduct cryptocurrency exchange operations legally within South Korea. This licensing status positions it as a compliant gateway for any international organization seeking to access Korean customers.
Plans for Stablecoins and Tokenized Asset Development
Korea Investment & Securities has announced intentions to collaborate with Coinone on security token initiatives and stablecoin projects. This announcement coincides with South Korean authorities developing comprehensive digital asset legislation known as the Digital Asset Basic Act.
This legislative framework has experienced multiple postponements, with its implementation timeline remaining uncertain. However, leading financial institutions are proceeding proactively, establishing strategic positions within the cryptocurrency industry in anticipation of formal regulatory guidelines.
OKX Ventures and Coinone have also committed to exchanging expertise regarding customer protection protocols, security measures, and risk mitigation strategies.
The Coinone transaction represents one element of an expanding pattern of institutional capital flowing into South Korea’s cryptocurrency sector. Earlier this week, three Samsung subsidiary companies disclosed a $408 million investment in Dunamu, Upbit’s parent organization and operator of South Korea’s dominant cryptocurrency exchange, securing a collective 4% ownership stake.
Mirae Asset, which oversees more than $665 billion in assets under management, revealed in February its plan to secure a 92% controlling interest in Korbit. Prominent banking institutions including KB Kookmin and Shinhan have established collaborative arrangements with blockchain platforms such as Solana and Avalanche to pilot payment infrastructure utilizing stablecoins and tokenized deposit instruments.
OKX officially confirmed the transaction on May 29, 2026. The announcement validates earlier reporting from Yonhap News suggesting OKX and KIS were exploring purchases of approximately 20% stakes in Coinone.
The deal remains contingent upon receiving necessary regulatory authorization before reaching completion.
