OKX Ventures, Korea Investment to buy 20% of Coinone

A major South Korean cryptocurrency exchange, Coinone, is set for a significant ownership change following a joint investment agreement with a global crypto firm and a domestic securities company. OKX Ventures, the investment arm of the global exchange OKX, and Korea Investment Securities have each agreed to acquire a roughly 20 percent stake in Coinone, pending regulatory approval.

The combined transaction is valued at approximately 160 billion won, or about $106 million. The deal involves a combination of purchasing existing shares and subscribing to newly issued equity. Following the transaction, Coinone CEO Cha Myunghun will remain the company's largest individual shareholder, retaining management control. Gaming company Com2uS Holdings will also maintain a significant stake.

Executives from both investing firms framed the move as a strategic bet on South Korea's regulated digital asset market and its future growth areas. A representative for OKX Ventures stated that South Korea's regulatory framework is highly regarded globally and called the investment a reflection of the firm's belief in compliant financial infrastructure. The CEO of Korea Investment Securities said the...