OKX Targets South Korea Entry With Proposed 20% Coinone Investment

OKX is reportedly seeking to acquire a stake in South Korean crypto exchange Coinone together with Korea Investment & Securities. The proposed plan involves each firm buying roughly 20% through a capital raise using newly issued shares rather than purchasing existing shares. The structure would inject fresh capital into Coinone while avoiding immediate changes to management control. Coinone is currently led by domestic shareholders, including The One Group with a 34.3% stake, alongside other major shareholders such as Com2uS Holdings, Com2uS Plus, and founder and CEO Cha Myung-hoon. The investment could open South Korea’s tightly regulated crypto market to global firms, with future foreign influence shaped by ongoing regulatory reforms on exchange ownership rules.

"OKX is reportedly seeking to acquire a stake in South Korean exchange Coinone alongside Korea Investment & Securities, in what could become one of the most significant foreign-linked investments in the country's digital asset sector in years. According to industry sources, the two firms are discussing plans to each acquire roughly 20% of Coinone through a capital raise structured around newly issued shares rather than purchases from existing shareholders. The approach would inject fresh capital into the exchange while avoiding immediate changes to management control."

"Coinone is currently controlled by a group of domestic shareholders led by The One Group, which holds a 34.3% stake. Other major shareholders include Com2uS Holdings, Com2uS Plus, and Coinone founder and CEO Cha Myung-hoon, who also controls The One Group. While the proposed investment is being framed primarily as a financial partnership, market observers believe OKX could eventually seek a more strategic role in the business."

"If that were to happen, it would represent only the second notable attempt by a major overseas crypto exchange to gain influence over a Korean won-based trading platform, following Binance's investment in Gopax parent company Streami. The discussions come as South Korea reassesses its approach to digital asset regulation. Policymakers and regulators are currently reviewing reforms that could reshape ownership rules for virtual asset exchanges."

"Those regulatory developments may ultimately determine how far foreign participation in domestic crypto exchanges can extend. For OKX, the move would provide a foothold in one of Asia's most active retail crypto markets. South Korea is strategically important for global crypto exchange operators seeking growth in highly active trading environments."

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