Key Highlights
- Global cryptocurrency exchange OKX targets a 20% ownership position in South Korean digital asset platform Coinone, Yonhap News Agency reports.
- Korea Investment & Securities plans to acquire an equivalent 20% stake through a capital increase involving newly issued shares.
- The planned investment structure maintains Coinone’s existing leadership and operational control.
- Regulatory approval would make OKX the second international exchange with significant ownership in a South Korean trading platform, following Binance.
- Coinone holds authorization as one of five South Korean exchanges permitted to facilitate fiat currency to cryptocurrency conversions.
Global cryptocurrency exchange OKX plans to secure a 20% ownership stake in South Korean digital asset platform Coinone, Yonhap News Agency reports. Korea Investment & Securities Co. intends to acquire an identical 20% position. Both parties will participate through a capital increase involving newly issued shares while preserving current management arrangements.
Strategic Partnership Brings Equal Ownership Stakes to Both Investors
Yonhap News Agency disclosed that OKX and Korea Investment & Securities have aligned their objectives to obtain matching ownership percentages in Coinone. Both entities plan to purchase approximately 20% through capital expansion. Coinone will create new shares rather than transfer existing equity holdings.
According to the report, the investment arrangement preserves Coinone’s current leadership framework. Yonhap emphasized that “the investment is unlikely to alter the exchange’s management.” Upon receiving regulatory clearance, OKX would become the second foreign entity with substantial holdings in a South Korean cryptocurrency exchange, alongside Binance.
Binance established this precedent by acquiring Gopax, representing the initial major international investment of this kind. Coinone maintains operational status as one of five South Korean platforms with regulatory permission for fiat-to-cryptocurrency transactions. Upbit and Bithumb continue to command the largest market share in South Korea’s domestic digital asset trading landscape.
Coinone’s current ownership composition features The One Group, which maintains a 34.3% stake. Founder Cha Myung-hoon directly controls 19.14% while exercising oversight of The One Group. Com2uS Holdings possesses 21.95%, with Com2uS Plus holding an additional 16.47%.
Regulatory Framework Evolves Amid Growing Investment Activity
South Korea has experienced significant investment activity targeting prominent cryptocurrency exchanges throughout this year. Hana Financial Group revealed plans to obtain a $670 million equity position in Dunamu, Upbit’s parent organization. In February, Mirae Asset announced its intention to acquire a 92% stake in Korbit.
Regulatory bodies currently deliberate ownership restrictions as part of the forthcoming Digital Asset Basic Act. Media sources indicate authorities are evaluating a 34% maximum threshold for corporate shareholders. A 20% ceiling for individual stakeholders also remains under consideration.
These proposed limitations could significantly influence future ownership configurations within domestic exchanges. Authorities maintain ongoing consultations while preparing final regulatory provisions. Legislative bodies have yet to confirm definitive ownership parameters.
Following regulatory approval, the OKX transaction would establish the exchange’s presence within South Korea’s supervised trading environment. Coinone retains its status among the nation’s authorized fiat-to-cryptocurrency platforms. Both parties continue negotiations while regulators examine the comprehensive regulatory structure.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
