OKX, Korea Investment in talks to buy 20% of Coinone
OKX and Korea Investment & Securities are in talks to each buy about 20% of South Korea’s Coinone by subscribing to new shares, industry sources indicate.
OKX and Korea Investment & Securities are discussing plans to each acquire roughly 20% of South Korean crypto exchange Coinone by subscribing to newly issued shares, industry sources indicate.
The proposed purchases would take place through a capital raise rather than transfers of existing shareholders’ stakes. The issuance would add new capital to Coinone and would not immediately change management control.
Coinone is controlled by a group of domestic investors led by The One Group, which holds a 34.3% stake. Other listed shareholders include Com2uS Holdings, Com2uS Plus and Coinone founder and CEO Cha Myung-hoon, who also controls The One Group. The planned share issuance would expand the company’s capital base without directly reducing those holdings.
If completed, each investor would hold about one-fifth of the company. Industry observers note OKX may pursue a larger strategic role over time; Binance previously invested overseas in Streami, the parent of Korean exchange Gopax, as an example of a foreign firm taking a stake in a won-based platform.
Policymakers and regulators in South Korea are reviewing reforms that could affect ownership rules for virtual asset exchanges. Those regulatory changes could affect limits on foreign participation and control of domestic exchanges.
Foreign exchanges face barriers in South Korea, including strict licensing requirements and banking rules tied to a real-name verification system that links crypto accounts to local bank accounts.
Korea Investment & Securities is one of the country’s major brokerage and securities firms. Its participation would involve an established domestic financial institution taking a minority stake in a local crypto exchange.
None of the parties involved-Coinone, OKX or Korea Investment & Securities-have publicly confirmed the negotiations. Industry sources indicate talks are ongoing and that the final structure of any deal could change depending on regulatory outcomes and shareholder agreements.
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