OKX set to acquire 20% stake in South Korean crypto exchange Coinone: report
OKX plans to acquire a 20% stake in South Korean exchange Coinone alongside Korea Investment & Securities, potentially becoming the second major global exchange with significant ownership of a Korean platform after Binance's Gopax deal. The investment follows major regulatory discussions about ownership caps and recent stakes by Hana Bank in Upbit parent Dunamu and Mirae Asset in Korbit, reshaping South Korea's crypto landscape.
Key takeaways
- 1OKX plans to acquire approximately 20% stake in South Korean exchange Coinone alongside Korea Investment & Securities.
- 2OKX would become second global exchange with major Korean platform ownership after Binance's Gopax deal.
- 3South Korean authorities are discussing 34% ownership cap for corporates and 20% cap for individuals under Digital Asset Basic Act.
Why it matters
Global exchanges expanding into South Korea's regulated fiat-crypto market signals growing legitimacy, while new ownership caps could reshape the competitive landscape. For Indian retail investors, this reflects regulatory evolution in Asian crypto markets and potential valuation impacts on major exchange platforms.
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