CoinDesk
OKX Ventures and Korea Investment & Securities will each invest KRW 80 billion (about $53 million) for 19.6% stakes in South Korean crypto exchange Coinone, the companies announced Friday, with the combined KRW 160 billion ($106 million) deal pending regulatory approval. The transaction is structured through a mix of secondary share purchases from existing shareholders and subscriptions for newly issued shares. Following the deal, CEO Cha Myunghun will remain Coinone's largest shareholder with 27.8% and retain management control, while Com2uS Holdings and affiliates hold 25% and OKX Ventures and KIS become joint third-largest shareholders.
Why it matters
The deal is one of the largest recent investments by a global crypto firm into South Korea's digital asset sector, and the structure matters as much as the size. By pairing OKX Ventures with Korea Investment & Securities — one of the country's largest brokerages — Coinone is bringing in both offshore crypto capital and a regulated domestic securities incumbent, the kind of local partnership that has become a practical prerequisite for foreign crypto firms navigating Korea's strict exchange licensing regime.
The proceeds also fund a strategic pivot: Coinone said the capital will support a push into stablecoins and tokenized securities, two of the most closely watched product categories in Korean finance as regulators debate the rollout of won-backed stablecoins and pilots for security token offerings.
Market impact
The investment tightens OKX's footprint in Asia after a period of regulatory retrenchment in other jurisdictions, and gives Coinone the war chest to compete with the country's listed exchange operators as the sector consolidates. The dual-investor structure also creates a template: future foreign entrants may find the path of least resistance is co-investing with a domestic brokerage rather than acquiring independently. The deal formalizes discussions first reported by Yonhap earlier this month, and the regulatory approval timeline will be the next testable milestone.
Frequently asked questions
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How much is OKX Ventures investing in Coinone?
OKX Ventures is investing KRW 80 billion (about $53 million) for a 19.6% stake in Coinone, matching an identical investment from Korea Investment & Securities.
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What is the total value of the Coinone deal?
The combined deal is worth KRW 160 billion (about $106 million), structured through a mix of secondary share purchases and subscriptions for newly issued shares.
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Who are Coinone's largest shareholders after the deal?
CEO Cha Myunghun will remain the largest shareholder with 27.8% and keep management control, Com2uS Holdings and affiliates will hold 25%, and OKX Ventures and KIS will become joint third-largest shareholders.
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What will Coinone use the investment capital for?
Coinone said the capital will support a strategic push into stablecoins and tokenized securities, two product categories Korean regulators are actively reviewing.
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Is the OKX Ventures deal in Coinone finalized?
The deal remains subject to regulatory approval in South Korea. It formalizes discussions first reported by Yonhap earlier this month.
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