OKX Ventures has agreed to acquire a 19.6% stake in South Korean cryptocurrency exchange Coinone through an 80 billion won ($53 million) investment, expanding the global exchange group’s presence in one of Asia’s largest digital asset markets.
Summary
- OKX Ventures will invest $53 million in Coinone, securing a 19.6% stake pending regulatory approval.
- Korea Investment & Securities is making a matching investment, with both firms set to become Coinone’s joint third-largest shareholders.
- The deal comes as South Korean financial institutions increase crypto investments and expand work on stablecoin and tokenized asset initiatives.
According to a statement released by Coinone, the company has signed strategic equity investment agreements with OKX Ventures, Korea Investment & Securities (KIS), and South Korean gaming firm Com2uS and its affiliate.
Pending regulatory approval and completion of the transaction, OKX Ventures and KIS will each hold a 19.6% stake in Coinone after investing 80 billion won apiece. Coinone said the two investors are expected to become the exchange’s joint third-largest shareholders behind Chief Executive Officer Cha Myung-hun, who holds 27.8%, and Com2uS Holdings and its affiliated company, which together control 25%.
Coinone stated that the transaction will combine secondary share purchases from Cha and Com2uS with subscriptions to newly issued shares.
Coming after Binance’s acquisition of rival exchange Gopax, the investment adds to a growing list of overseas crypto firms seeking exposure to South Korea’s regulated digital asset sector.
In comments included in the announcement, Netero Dai, vice president of OKX Global Markets, described South Korea as one of the world’s most advanced digital asset markets and said the country’s regulatory framework is respected internationally.
“We believe that the future of finance will be built on compliant, well-regulated infrastructure, and our investment in Coinone with Korea Investment & Securities reflects that conviction.”
Beyond the equity investment, Coinone and OKX Ventures said they plan to exchange expertise in areas including user protection, security systems, and risk management practices.
At the same time, KIS said it intends to pursue business opportunities involving security tokens and stablecoins as South Korea continues discussions around digital asset legislation.
South Korean financial institutions increase crypto exposure
The Coinone deal arrives as major South Korean financial groups step up investments across the cryptocurrency sector.
Earlier this week, three Samsung subsidiaries announced plans to invest approximately $408 million in Dunamu, the parent company of Upbit, in exchange for a combined 4% ownership stake.
Separately, Mirae Asset, which manages more than 1,000 trillion won ($665 billion) in assets, disclosed in February that it would acquire a 92% stake in cryptocurrency exchange Korbit.
Several large financial institutions, including KB Kookmin, Shinhan, and NHN KCP, have also entered partnerships with blockchain networks such as Solana and Avalanche to test payment infrastructure involving tokenized deposits and stablecoins.
Meanwhile, South Korean policymakers continue work on the proposed Digital Asset Basic Act, a comprehensive crypto framework intended to govern the country’s digital asset industry. Although regulators have continued discussions on the legislation, its final implementation schedule remains uncertain.
Recent developments have also shown international financial firms increasing cooperation with crypto-native companies.
In May, Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, expanded its strategic relationship with OKX through plans to support perpetual oil futures linked to ICE Brent and WTI benchmarks.
