OKX and Korea Investment seek 20% stakes in Coinone

OKX and Korea Investment & Securities are in talks to each acquire a 20% stake in Coinone, highlighting growing global interest in South Korea’s crypto sector.

OKX and Korea Investment & Securities are in advanced talks to each acquire a 20% stake in Coinone, a leading South Korean cryptocurrency exchange. The proposed investments would be made through the issuance of new shares, injecting fresh capital while allowing Coinone’s current management and major shareholders to maintain control. Coinone has confirmed ongoing discussions with multiple companies but stated that no final agreement has been reached. If successful, OKX would become the second global exchange to secure a significant stake in a Korean platform, following Binance’s acquisition of Gopax. This potential deal comes amid increased consolidation in South Korea’s crypto market and growing international interest in the country’s digital asset sector. Regulatory changes, such as a 20% ownership cap for crypto exchange shareholders, may require Coinone to restructure its ownership regardless of the negotiations’ outcome. The deal could also provide OKX with its first licensed entry into the South Korean market, overcoming previous regulatory barriers.