OKX, Korea Investment Securities in Coinone stake talks

Global cryptocurrency exchange OKX and South Korean brokerage Korea Investment Securities are in early-stage discussions to each acquire approximately 20 percent stakes in Coinone, one of South Korea's five licensed digital asset exchanges, according to reports from May 15. Coinone confirmed it is exploring strategic equity investments and partnerships with multiple firms but emphasized that no agreements have been reached.

A Coinone official stated, "We are discussing strategic equity investments and partnerships with multiple companies, but nothing has been finalized." The talks, which could involve issuing new shares rather than transferring existing ones, come amid regulatory pressures to restructure ownership at local exchanges. Coinone's current major shareholders include The One Group with 34.3 percent, Com2uS Holdings with 21.95 percent, CEO and founder Cha Myunghoon with 19.14 percent, and Com2uS Plus with 16.47 percent. Cha also holds the largest stake in The One Group. These holdings exceed proposed limits under South Korea's Digital Asset Basic Act, where the Financial Services Commission plans to cap individual ownership at 20 percent and corporate stakes up to 34...