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- OKX and Korea Investment & Securities are discussing separate 20% investments in Coinone.
- The deal may rely on newly issued shares to provide fresh capital to the exchange.
- Market observers believe OKX could seek a larger role in the Korean crypto sector in the future.
South Korea’s cryptocurrency industry could soon welcome another major international participant. Korea Investment & Securities and global crypto exchange OKX are reportedly discussing plans to acquire stakes in Coinone, one of the country’s leading virtual asset exchanges.
According to industry sources, both companies are reviewing a structure that would give each side roughly 20% ownership in Coinone. The investment plan is expected to focus on the issuance of new shares rather than the sale of existing holdings. This structure would allow Coinone to raise fresh capital while maintaining its current ownership framework.
The discussions have drawn attention because OKX ranks among the world’s largest cryptocurrency exchanges alongside major global competitors. Any successful investment could strengthen its position in the Korean digital asset market at a time when competition among exchanges continues to increase.
Investment Structure Focuses on Growth
From the analysis, the deal seems to be more of an investment than an attempt at changing management control. The issuance of the additional shares by Coinone will raise funds that can help develop the company further and grow.
Coinone is owned mostly by major stakeholders. The One Group owns 34.30% of the company, while Com2uS Holdings has a 21.95% share of the firm. The CEO of the firm, Cha Myung-hoon, holds 19.14% of Coinone, while Com2uS Plus owns 16.47% of the company. Cha controls The One Group.
Therefore, the investments to be made by Korea Investment & Securities and OKX will have no effect on Coinone’s management in the short run. According to industry experts, the above investment is just the beginning of a plan. It is speculated that OKX may take advantage of any favorable market situation to seek more influence within Coinone or even participate in management.
OKX Explores Investment in Coinone
This would represent a similar attempt as other foreign cryptocurrency exchanges made in the past to establish their positions in the South Korean market. Binance was able to do so after acquiring a stake in Streami, the operator of the Gopax exchange.
The regulatory landscape may play an important role in how successful foreign crypto exchanges will be in expanding their influence. The authorities continue to consider regulations regarding the ownership structure and the involvement of major shareholders in virtual asset businesses.
The negotiations of OKX to obtain a stake in Coinone occur amid other significant investments in South Korea’s cryptocurrency market. Mirae Asset Consulting acquired a controlling share in Korbit, whereas Hana Bank made an investment in Dunamu that operates Upbit.
These cases demonstrate how financial institutions and cryptocurrency exchanges work together. If OKX manages to close the deal, it will be another step towards international cooperation and healthy competition in South Korea’s fast-growing crypto market.
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