OKX in Talks to Buy Around 20% of South Korea’s Coinone in Deal With Korea Investment & Securities
Key Takeaways
- OKX and Korea Investment & Securities are reportedly each seeking to acquire roughly 20% stakes in South Korean crypto exchange Coinone.
- Yonhap said Coinone is expected to issue new shares for the deal, a structure that would likely keep the current management in place.
- If approved, OKX would become the second overseas crypto exchange with a major stake in a South Korean platform after Binance’s investment in Gopax.
- South Korean authorities are discussing ownership caps under the proposed Digital Asset Basic Act, including 34% for corporate ownership and 20% for individual shareholders.
- OKX has recently expanded into payments, AI-enabled blockchain commerce tools, and U.S. institutional off-exchange settlement through a BitGo partnership.
OKX targets stake in Coinone
OKX is moving closer to establishing a significant position in South Korea’s crypto market after entering discussions to acquire a sizeable stake in local exchange Coinone, alongside Korea Investment & Securities, according to Yonhap News Agency.
Yonhap reported that OKX and Korea Investment & Securities are each seeking to purchase roughly 20% of Coinone. The proposed transaction is expected to be structured through the issuance of new shares, rather than the sale of existing holdings. That approach would likely allow Coinone’s current management to remain in place.
If approved by regulators, the investment would make OKX the second overseas crypto exchange to hold a major ownership stake in a South Korean trading platform, following Binance’s investment in Gopax.
Coinone’s position in South Korea’s fiat-to-crypto market
Coinone is among South Korea’s licensed exchanges that are part of a small group permitted to provide fiat-to-crypto trading services. However, despite its licensed status, domestic trading volume remains heavily concentrated in the market leaders Upbit and Bithumb.
The reported Coinone talks surfaced within hours of another notable investment disclosure in the country’s digital asset sector. Banking group Hana Financial Group confirmed plans to acquire a $670 million stake in Dunamu, the parent company of Upbit.
In a separate move earlier this year, financial conglomerate Mirae Asset announced plans to purchase a 92% stake in Korbit, another exchange considered part of South Korea’s top tier.
Regulators consider new ownership limits for crypto exchanges
The reported negotiations involving Coinone come as South Korean lawmakers and authorities debate tighter rules around ownership of digital asset firms under the proposed Digital Asset Basic Act.
Local media reports cited by Yonhap said policymakers are considering a cap that would limit corporate ownership in crypto exchanges to 34%, while placing a 20% ceiling on individual shareholders.
Yonhap added that Coinone’s current shareholder structure could draw attention under those proposed thresholds. The One Group reportedly holds 34.3% of Coinone, while Coinone founder Cha Myung-hoon owns 19.14%. Cha is also identified as the largest shareholder of The One Group.
Meanwhile, gaming company Com2uS Holdings controls an additional 21.95% stake in Coinone, according to the report, and its affiliated investment unit Com2uS Plus holds 16.47%.
OKX expands beyond exchange trading
The Coinone discussions add to a broader period of expansion for OKX across payments, institutional services, and blockchain infrastructure.
In Europe, OKX recently disclosed early usage data for the OKX Card, a stablecoin-linked payments product launched with support from Mastercard and Circle. OKX said that grocery purchases accounted for 26% of transactions conducted with the card during its first month across the European Economic Area, while restaurants and online marketplaces also represented a large share of activity.
OKX has also been building tools aimed at new on-chain commercial use cases. In April, the company introduced its Agent Payments Protocol, an open framework intended to enable AI agents to carry out commercial actions including payments, escrow, settlement, and dispute handling across multiple blockchains. OKX said the protocol was developed with support from ecosystems including Ethereum, Base, Sui, Aptos, and Optimism.
Institutional offerings remain another focus area. Through a partnership with BitGo, OKX integrated off-exchange settlement services in the U.S., enabling institutional clients to trade while keeping assets in third-party custody.
What the Coinone talks could mean for market access
If regulators approve the transaction as described, OKX would gain a meaningful ownership position in one of South Korea’s major licensed exchanges, at a time when both domestic financial groups and lawmakers are actively reshaping the sector through investment activity and proposed ownership rules.
DISCLAIMER
This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments involve substantial risk and extreme volatility - never invest money you cannot afford to lose completely. The author may hold positions in the cryptocurrencies mentioned, which could bias the presented information. Always conduct your own research and consider consulting a qualified financial advisor before making any investment decisions.
About Arthur J. Beckett
Core Developer at Coinasity.com | Blockchain Researcher
Leading the tech behind Coinasity, this account shares insights from a core dev focused on secure, scalable blockchain systems. Passionate about infrastructure, privacy, and emerging altcoin ecosystems.
