OKX Moves to Acquire 20% of Korea’s Coinone: Yonhap

TLDR

• OKX plans to acquire a 20% stake in South Korean crypto exchange Coinone, according to Yonhap News Agency.
• Korea Investment & Securities intends to purchase a similar 20% stake in Coinone through newly issued shares.
• The reported transaction is unlikely to change Coinone’s current management structure.
• If approved, OKX would become the second global exchange to hold a major stake in a Korean platform after Binance.
• Coinone remains one of five exchanges in South Korea authorized to offer fiat-to-crypto trading services.

OKX is preparing to acquire a 20% stake in South Korean crypto exchange Coinone, according to Yonhap News Agency. The report said Korea Investment & Securities Co. plans to purchase a similar 20% stake. The transaction would proceed through newly issued shares and would not change current management.

OKX and Korea Investment Target Minority Stakes in Coinone

Yonhap reported that OKX and Korea Investment & Securities aim to secure equal ownership positions in Coinone. Each party plans to buy about 20% through a capital increase. Coinone would issue new shares instead of selling existing holdings.

The report said the investment would likely leave Coinone’s management structure unchanged. Yonhap stated that “the investment is unlikely to alter the exchange’s management.” If regulators approve the deal, OKX would join Binance as a foreign stakeholder in a Korean exchange.

Binance previously acquired Gopax, marking the first such cross-border transaction. Coinone operates as one of five Korean exchanges authorized for fiat-to-crypto trading. However, Upbit and Bithumb currently dominate the domestic crypto trading market.

Coinone’s shareholder structure includes The One Group, which holds a 34.3% stake. Its founder, Cha Myung-hoon, owns 19.14% directly and controls The One Group. Com2uS Holdings holds 21.95%, while Com2uS Plus owns 16.47%.

South Korea Tightens Ownership Rules as Deals Expand

South Korea has seen multiple investment moves involving major crypto exchanges this year. Hana Financial Group announced it will acquire a $670 million stake in Dunamu, the parent of Upbit. Earlier in February, Mirae Asset said it would purchase a 92% stake in Korbit.

Authorities are now discussing ownership limits under the upcoming Digital Asset Basic Act. Local reports said regulators are considering a 34% cap for corporate shareholders. They are also reviewing a 20% cap for individual investors.

The proposed caps could affect future shareholding structures in domestic exchanges. Regulators continue consultations as they draft final provisions. Lawmakers have not yet confirmed the final ownership thresholds.

If approved, the OKX transaction would position the exchange within South Korea’s regulated trading sector. Coinone remains one of the country’s licensed fiat-to-crypto platforms. Discussions over the acquisition continue as authorities review the broader regulatory framework.

The post OKX Moves to Acquire 20% of Korea’s Coinone: Yonhap appeared first on CoinCentral.