OKX and Korea Investment & Securities are reportedly in talks to acquire stakes in South Korean crypto exchange Coinone. The move could mark a major step in opening up Korea’s tightly regulated digital assets market to global players.
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Key points to remember:
- OKX and Korea Investment could buy 20% each of Coinone via a new share issue.
- The Coinone deal could open up South Korea’s tightly regulated crypto market to global companies.
- Reforms in South Korea could determine how far OKX can grow in Korean crypto exchanges.
OKX explores Coinone’s strategic role as South Korea rethinks crypto rules
Global crypto exchange OKX is reportedly looking to acquire a stake in South Korean exchange Coin alongside Korea Investment & Securities, in what could become one of the largest foreign investments in the country’s digital assets sector in years.
According to industry sources, the two companies are discussing plans to each acquire approximately 20% of Coinone through a capital raise structured around newly issued shares rather than purchases from existing shareholders. This approach would inject new capital into the stock market while avoiding immediate changes in management control.
Coinone is currently controlled by a group of domestic shareholders led by The One Group, which holds a 34.3% stake. Other major shareholders include Com2uS Holdings, Com2uS Plus and Coinone founder and CEO Cha Myung-hoon, who also controls The One Group.
Although the proposed investment is presented primarily as a financial partnership, market observers believe that OKX could eventually seek to play a more strategic role in the company. If this were to happen, it would represent only the second notable attempt by a major foreign crypto exchange to gain influence over a Korean won-based trading platform, following Binance’s investment in Gopax parent company Streami.
The discussions come as South Korea reevaluates its approach to regulating digital assets. Policymakers and regulators are currently considering reforms that could reshape ownership rules for virtual asset exchanges. These regulatory developments could ultimately determine how far foreign participation in domestic crypto exchanges can extend.
For OKX, the move would provide a foothold in one of Asia’s most active crypto retail markets. South Korea is of strategic importance to global exchanges due to its high trading volumes, sophisticated retail investor base and strong local appetite for digital assets. At the same time, market access remains difficult for foreign companies due to strict licensing requirements and banking regulations linked to real-name verification systems.
Korea Investment & Securities’ involvement also reflects a broader shift among the country’s traditional financial institutions, many of which are increasingly exploring partnerships and investments related to digital assets and blockchain infrastructure.
Neither Coinone, OKX nor Korea Investment & Securities have publicly confirmed details of the discussions.
If completed, the investment would signal a growing convergence between traditional financial markets and crypto markets in South Korea, at a time when competition between exchanges is intensifying and institutional interest in digital assets continues to grow.