OKX Ventures to Buy 19.6% Coinone Stake in $53 million Korean Crypto Deal

TLDR

• OKX Ventures will invest 80 billion won to buy a 19.6% stake in Coinone.
• Korea Investment & Securities will invest the same amount for a matching stake.
• Coinone CEO Cha Myung-hun will remain the largest shareholder with 27.8%.
• The deal needs regulatory approval and includes new shares and secondary purchases.

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OKX Ventures has confirmed a $53 million investment to buy a 19.6% stake in Coinone. The deal gives OKX a direct link to a licensed South Korean crypto exchange. It also shows rising interest in the country’s regulated digital asset market.

Coinone is one of South Korea’s five licensed digital asset trading platforms. The investment remains subject to regulatory approvals. The deal also follows Binance’s earlier move to acquire Gopax.

OKX Ventures Secures Coinone Stake

OKX Ventures will invest 80 billion won in Coinone, equal to about $53 million. Korea Investment & Securities will also invest the same amount. Each firm will receive a 19.6% stake after approvals.

The investment will use two methods. It includes secondary share purchases from existing holders. It also includes the subscription of newly issued Coinone shares.

After completion, OKX Ventures and KIS will jointly become Coinone’s third-largest shareholders. Coinone CEO Cha Myung-hun will hold 27.8%. Com2uS Holdings and its affiliate will hold 25%.

Deal Adds To South Korea Crypto Push

The move gives OKX a stronger position in South Korea’s crypto market. South Korea has active retail crypto trading and strict exchange rules. Global crypto firms have watched the market closely.

Binance earlier moved into South Korea through Gopax. OKX now follows with a strategic investment in Coinone. Both moves show how global firms seek licensed local partners.

Netero Dai, vice president of OKX Global Markets, pointed to South Korea’s market structure. “South Korea is one of the world’s most sophisticated digital asset markets,” Dai said. He also said its regulatory framework is “highly respected globally.”

Coinone Partners Focus On Risk Controls

OKX Ventures and Coinone plan to share knowledge on user protection. They will also exchange views on security and risk management. The companies said these areas will guide their cooperation.

KIS plans to work with Coinone on security tokens and stablecoins. The move comes as South Korea reviews new digital asset rules. Local firms are also testing blockchain-based payment systems.

The planned Digital Asset Basic Act remains under discussion. The law is expected to create a wider crypto rulebook. However, its exact timeline remains uncertain.

Korean Finance Firms Increase Crypto Deals

South Korean financial firms have increased crypto-related investments in recent months. Samsung subsidiaries announced a $408 million investment in Dunamu, Upbit’s parent company. The deal gives them a combined 4% stake.

Mirae Asset also announced plans to buy a 92% stake in Korbit. The company manages more than 1,000 trillion won in assets. Its move shows that large local finance groups want crypto exposure.

Other institutions have started blockchain trials with global networks. KB Kookmin, Shinhan, and NHN KCP have worked on tokenized deposit tests. Some projects also include stablecoin payment trials.

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