OKX Ventures, the investment arm of crypto exchange OKX, will invest KRW 80 billion ($53 million) for a 19.6% stake in South Korean cryptocurrency exchange Coinone, the companies announced Friday, marking one of the largest recent investments by a global crypto firm into Korea’s digital asset sector.
Korea Investment & Securities (KIS), one of South Korea’s largest brokerages, will make an identical KRW 80 billion investment and also hold a 19.6% stake upon completion of the transaction, which remains subject to regulatory approval.
The combined KRW 160 billion ($106 million) deal will be structured through a mix of secondary share purchases from existing shareholders and subscriptions for newly issued shares, according to a company statement.
Following the investment, Coinone CEO Cha Myunghun is expected to remain the exchange’s largest shareholder with a 27.8% stake and retain management control. Com2uS Holdings and its affiliates will hold 25%, while OKX Ventures and KIS will become joint third-largest shareholders.
The deal formalizes discussions first reported by Yonhap earlier this month, which said OKX and KIS were considering acquiring roughly 20% stakes in Coinone.
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Sam Reynolds
https://www.coindesk.com/markets/2026/05/29/okx-ventures-buys-usd53-million-stake-in-korea-s-coinone-exchange
2026-05-29 06:07:00
