Key Takeaways

• OKX and Korea Investment could acquire 20% each of Coinone through new share issuance.
• The Coinone deal may open South Korea’s tightly regulated crypto market to global firms.
• Upcoming South Korea reforms could influence OKX’s expansion in the Korean crypto exchange landscape.

OKX Explores Strategic Coinone Role as South Korea Rethinks Crypto Rules

Global crypto exchange OKX is reportedly seeking to acquire a stake in South Korean exchange Coinone alongside Korea Investment & Securities, in what could become one of the most significant foreign-linked investments in the country’s digital asset sector in years.

According to industry sources, the two firms are discussing plans to each acquire roughly 20% of Coinone through a capital raise structured around newly issued shares rather than purchases from existing shareholders. The approach would inject fresh capital into the exchange while avoiding immediate changes to 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.

While the proposed investment is being framed primarily as a financial partnership, market observers believe OKX could eventually seek a more strategic role in the business. If that were to happen, it would represent only the second notable attempt by a major overseas 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 reassesses its approach to digital asset regulation. Policymakers and regulators are currently reviewing reforms that could reshape ownership rules for virtual asset exchanges. Those regulatory developments may 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 retail crypto markets. South Korea is strategically important for global exchanges due to its high trading volumes, sophisticated retail investor base, and strong local appetite for digital assets. At the same time, the market has remained difficult for foreign firms to enter because of strict licensing requirements and banking regulations tied to real-name verification systems.

Korea Investment & Securities’ involvement also reflects a broader shift among traditional financial institutions in the country, many of which are increasingly exploring partnerships and investments tied to digital assets and blockchain infrastructure.

Neither Coinone, OKX, nor Korea Investment & Securities publicly confirmed details of the discussions.

If completed, the investment would signal growing convergence between traditional finance and crypto markets in South Korea at a time when competition among exchanges is intensifying, and institutional interest in digital assets continues to rise.

OKX Explores Strategic Coinone Role as South Korea Rethinks Crypto Rules

SEOUL, South Korea — In a move that could reshape the landscape of South Korea’s tightly regulated cryptocurrency market, global exchange OKX is reportedly in talks to acquire a 20% stake in local exchange Coinone. This potential partnership, alongside Korea Investment & Securities, marks a significant step for foreign firms seeking to penetrate the nation’s digital asset sector.

Industry insiders reveal that the two companies are negotiating a capital raise through newly issued shares, rather than purchasing from existing shareholders. This strategy aims to infuse fresh capital into Coinone while maintaining the current management structure, which is predominantly controlled by domestic stakeholders, including The One Group, which holds a 34.3% stake.

The discussions come at a pivotal time as South Korea reassesses its regulatory framework for digital assets. Policymakers are reviewing reforms that could alter ownership rules for virtual asset exchanges, potentially paving the way for greater foreign participation in the market. If successful, this investment would only be the second major attempt by an overseas crypto exchange to gain influence over a Korean won-based trading platform, following Binance’s investment in Gopax parent company Streami.

For OKX, establishing a foothold in South Korea represents an opportunity to tap into one of Asia’s most vibrant retail crypto markets. The country boasts high trading volumes and a sophisticated investor base, making it an attractive destination for global exchanges. However, strict licensing requirements and banking regulations tied to real-name verification systems have historically posed challenges for foreign entrants.

Korea Investment & Securities’ involvement underscores a broader trend among traditional financial institutions in South Korea, many of which are increasingly exploring partnerships and investments in digital assets and blockchain technology.

While neither Coinone, OKX, nor Korea Investment & Securities have publicly confirmed the details of the discussions, the potential investment signals a growing convergence between traditional finance and the crypto market in South Korea. As competition among exchanges intensifies and institutional interest in digital assets continues to rise, the outcome of these negotiations could have far-reaching implications for the future of cryptocurrency in the region.

As the landscape evolves, all eyes will be on the regulatory developments that could either facilitate or hinder foreign investment in South Korea’s burgeoning crypto sector.