- Korea Investment & Securities and OKX Ventures each acquire a 20% stake in the Korean crypto exchange Coinone.
- The investment creates a shareholding split between the founder, Com2uS Holdings, and the two new financial partners.
- OKX Ventures’ involvement introduces a major international player to the Korean market, raising potential regulatory considerations.
- The deal is valued in the tens of billions of won, with a reported outlay of $6.5 million for ten billion won.
In a significant shakeup for South Korea‘s crypto industry, Korea Investment & Securities and OKX Ventures have each taken a 20% stake in Coinone, the nation’s third-largest exchange. This strategic move makes them joint third-largest shareholders alongside the founder and gaming giant Com2uS Holdings. The transaction involved acquiring both existing shares and newly issued ones.
OKX Ventures is the investment arm of the global exchange OKX, marking a notable international entry into recent Korean exchange investments. Consequently, this partnership grants Coinone a diversified ownership structure and global expertise. However, the involvement of a major international platform also presents new questions for local regulators.
Specifically, regulators may scrutinize the potential for a won stablecoin to circulate offshore through this partnership. That concern aligns with the Bank of Korea’s existing preference for bank-led digital currency issuance. Meanwhile, OKX’s motivation likely centers on accessing Korea’s highly active retail trading market for both crypto and securities.
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