South Korean crypto exchange Coinone announced a 160 billion won ($106 million) investment from Korea Investment & Securities (KIS) and OKX Ventures for a 19.6% stake in the platform. The deal, pending regulatory approval, would make KIS and OKX Ventures the joint third-largest shareholders behind CEO Myung-Hun Cha and Com2uS Holdings.
The transaction includes secondary share purchases and newly issued shares, with Cha retaining his position as largest shareholder and management control.
This move gives OKX Ventures a foothold in one of Asia’s most tightly regulated crypto markets, where licenses and compliance are crucial.
South Korea is reshaping its crypto sector with stricter oversight since the 2024 Virtual Asset User Protection Act, which imposed anti-money laundering and transaction monitoring requirements on exchanges including Upbit and Bithumb. Meanwhile, Seoul is gradually allowing greater institutional participation, creating opportunities for traditional financial firms.
Recent deals include Mirae Asset Consulting's acquisition of a 92.06% stake in Korbit and Hana Financial Group's plan to invest $668 million for a 6.55% stake in Dunamu, Upbit's operator.