Based on the published information, OKX and Korea Investment & Securities may each acquire approximately 20% of Coinone shares. The transaction is expected to be structured through the issuance of new shares rather than through the direct purchase of existing stakes from current shareholders.
OKX May Acquire a Stake in Coinone
OKX, one of the world’s largest cryptocurrency exchanges, is reportedly exploring participation in Coinone, one of the few South Korean exchanges authorized to provide fiat-to-crypto trading services.
According to Yonhap News Agency, OKX is reviewing the transaction together with Korea Investment & Securities Co. Each party could potentially obtain around a 20% stake in Coinone.
If completed, the transaction would make OKX another major global crypto company to secure a meaningful presence in the South Korean market. Binance previously took a similar step through its investment in exchange Gopax.
Key Details of the Potential Deal
| Category | Details |
|---|---|
| Potential foreign investor | OKX |
| Local partner | Korea Investment & Securities Co. |
| Target company | Coinone |
| Planned OKX stake | Approximately 20% |
| Planned Korea Investment & Securities stake | Approximately 20% |
| Expected structure | New share issuance |
| Management status | Current Coinone leadership expected to remain |
| Market | South Korea |
Why Coinone Is Attractive to Investors
Coinone is one of only five South Korean cryptocurrency exchanges authorized to provide fiat-to-crypto trading services.
This status is particularly valuable in South Korea, where access to fiat-based cryptocurrency trading is tightly regulated. Exchanges must comply with strict AML procedures, real-name banking requirements, customer protection standards, and regulatory reporting obligations.
Although the local market remains dominated by Upbit and Bithumb, Coinone still holds an important position as a regulated exchange with access to the Korean won and licensed financial infrastructure.
The Deal Could Be Structured Through New Share Issuance
Reports suggest the transaction may be structured through the issuance of new Coinone shares. This differs from a scenario where investors simply purchase existing stakes from current shareholders.
A new share issuance would allow Coinone to raise fresh capital directly into the company. For Coinone, this could become an important way to strengthen its financial position, expand technological infrastructure, and improve competitiveness against larger market players.
Under this structure, Coinone’s existing management team is expected to maintain operational control of the company.
Coinone’s Financial Situation and Search for Investors
Coinone previously stated that it was considering selling major shareholder stakes to foreign exchanges or local financial institutions.
Those discussions reportedly took place amid financial difficulties and intense competition in the domestic market. While South Korea remains one of the most active crypto markets globally, a significant portion of liquidity is concentrated among the largest exchanges.
For Coinone, attracting major investors could help secure additional capital, strengthen trust, expand its product lineup, and reinforce its position among the country’s regulated exchanges.
Current Ownership Structure of Coinone
According to available data, The One Group is currently Coinone’s largest shareholder, holding 34.3% of the exchange.
Coinone founder Cha Myung-hoon owns 19.14%. Other major stakeholders inсlude gaming company Com2uS Holdings with 21.95% and its subsidiary Com2uS Plus with 16.47%.
| Shareholder | Stake |
|---|---|
| The One Group | 34.3% |
| Com2uS Holdings | 21.95% |
| Founder Cha Myung-hoon | 19.14% |
| Com2uS Plus | 16.47% |
| Potential OKX stake | Approximately 20% |
| Potential Korea Investment & Securities stake | Approximately 20% |
South Korea’s Crypto Market Is Entering a Consolidation Phase
OKX’s potential involvement in Coinone comes amid a broader wave of consolidation within South Korea’s digital asset sector.
Major banks, investment firms, technology groups, and global crypto exchanges are increasingly searching for entry points into the country’s regulated digital asset infrastructure.
Earlier the same day, Hana Financial Group announced a roughly $670 million investment in Dunamu, the parent company of Upbit. Meanwhile, Mirae Asset previously revealed plans to acquire a 92% stake in Korbit, another major South Korean crypto exchange.
Together, these transactions indicate that the market is gradually shifting from a fragmented structure toward a more institutionalized model where banks, brokers, investment firms, and technology corporations play a growing role alongside crypto exchanges.
Why Global Exchanges Are Interested in South Korea
South Korea is widely considered one of the world’s most active cryptocurrency markets. The country has historically shown strong retail investor interest in digital assets, while local exchanges regularly generate significant trading volumes.
For global crypto exchanges, establishing a presence in South Korea can be strategically important for several reasons:
- access to a highly active retail user base;
- exposure to the Korean won market;
- participation in a regulated digital asset ecosystem;
- partnership opportunities with local financial institutions;
- expansion of Asian operations;
- access to a technologically advanced audience.
However, South Korea is also considered a difficult market for foreign companies due to strict regulations, banking partnership requirements, and strong competition from domestic exchanges.
What OKX Could Gain
If OKX ultimately acquires a stake in Coinone, the move could become an important step in strengthening the exchange’s Asian expansion strategy.
Owning a stake in a licensed South Korean exchange could provide OKX with access to local infrastructure, relationships with financial institutions, and deeper insight into South Korean regulatory and market conditions.
At the same time, the deal would likely represent a strategic investment rather than full operational control, allowing OKX to maintain a presence in the market through a regulated local platform.
The Role of Korea Investment & Securities
The participation of Korea Investment & Securities Co. could play a critical role in the structure of the transaction.
A local financial partner may strengthen regulatory confidence in the deal while also improving relationships with banking infrastructure providers and institutional market participants.
For Coinone, securing both an international crypto exchange and a South Korean financial company as investors could help create a more balanced ownership structure and improve long-term business stability.
Regulatory Changes Could Impact Ownership Structures
South Korean authorities are currently discussing new cryptocurrency regulations that could significantly affect ownership structures within the country’s exchange sector.
According to local reports, the upcoming Digital Asset Basic Act may introduce limits on ownership stakes in crypto exchanges. Proposed guidelines reportedly inсlude a 34% cap on corporate ownership and a 20% cap on individual ownership stakes.
If implemented, these rules could have a major impact on future transactions, shareholder structures, and corporate governance across South Korea’s crypto industry.
Why This Matters for Competition
South Korea’s cryptocurrency market remains heavily dominated by Upbit and Bithumb, making it difficult for mid-sized and smaller exchanges to compete for liquidity, users, and new products.
Bringing in strategic investors could provide Coinone with additional resources to improve technology, marketing, product offerings, and institutional services.
For users, stronger competition could ultimately lead to better service quality, expanded trading tools, and broader digital asset offerings.
Conclusion
According to media reports, OKX is considering acquiring approximately 20% of Coinone alongside Korea Investment & Securities Co., which could also secure a similar stake.
The deal is expected to be structured through a new share issuance, allowing Coinone to raise additional capital without fully replacing existing management.
OKX’s potential investment in Coinone reflects growing interest from global crypto exchanges and traditional financial institutions in South Korea’s digital asset market. Combined with Hana’s investment in Dunamu and Mirae Asset’s plans regarding Korbit, South Korea’s crypto sector appears to be entering a new phase of consolidation, regulation, and institutional expansion.