OKX Ventures, the investment division of global crypto exchange OKX, and Korea Investment & Securities (KIS), a leading South Korean brokerage, have each purchased a 20% stake in Coinone, one of the country’s largest cryptocurrency exchanges. This joint acquisition positions both companies as the third-largest shareholders in Coinone, signaling a strategic push into South Korea’s rapidly growing digital asset sector.
The transaction involved a combination of newly issued shares and existing shares sold by Coinone’s two largest shareholders: CEO Cha Myung-hoon, who retains a 30.36% share, and Com2uS Holdings, holding 24.54%. The combined $53 million investment demonstrates a collaborative effort to strengthen Coinone’s market presence while expanding beyond traditional finance into blockchain-powered financial services.
Korea Investment & Securities emphasized that their investment goes beyond simple equity acquisition—they aim to build a broad platform that includes tokenized securities, stablecoins, and blockchain-based financial products. The firm’s CEO, Kim Sung-hwan, indicated this move reflects a commitment to lead in emerging financial areas tied to digital assets.
For OKX Ventures, the partnership with Coinone offers access to local expertise and regulatory insights, allowing it to enhance investor protection, security, and risk management within South Korea. Netero Dai, OKX’s vice president of global markets, highlighted the importance of fostering a compliant and well-regulated crypto infrastructure as vital for the future of finance.
Coinone’s CEO confirmed ongoing cooperation with regulatory authorities to finalize shareholder adjustments and announced plans to host a media briefing alongside Com2uS Holdings, OKX Ventures, and KIS. The session will focus on detailing the partnership and exploring further collaboration opportunities.
The move comes amid a broader trend of South Korean brokerage firms increasing investments in crypto exchanges, prompted by regulatory developments aimed at structuring the country’s digital asset market. The Financial Services Commission is reportedly considering limits on major shareholders’ stakes in crypto exchanges, aligning governance practices with those of securities exchanges and trading platforms, which typically cap ownership around 15% to 20%.