OKX Ventures, Korea Investment & Securities to buy 19.6% Coinone stake for $106M
OKX Ventures and KIS to invest $53 million each for a 19.6% stake in Coinone, deepening ties between traditional finance and crypto in South Korea’s tightly regulated market....
Key takeaways
- 1OKX Ventures and Korea Investment & Securities invest $106 million combined for 19.6% Coinone stake, subject to regulatory approval.
- 2South Korea's Virtual Asset User Protection Act took effect in 2024, imposing stricter AML and transaction monitoring on exchanges.
- 3Traditional finance firms like Mirae Asset and Hana Financial Group increasingly acquire stakes in South Korean crypto exchanges for digital asset expansion.
Why it matters
India's crypto market lacks similar institutional legitimacy and regulatory clarity; South Korea's model of institutional participation within strict compliance frameworks offers a potential regulatory blueprint. Major crypto platforms seeking India expansion should note that government-backed financial institutions entering crypto signals policy normalization in regulated markets.
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OKX Ventures buys $53 million stake in Korea's Coinone exchange
OKX Ventures and Korea Investment & Securities each invest KRW 80 billion ($53 million) for 19.6% stakes in South Korean exchange Coinone, pending regulatory approval. The combined $106 million deal marks a major global crypto firm investment into Korea's digital asset sector. Coinone CEO Cha Myunghun retains largest shareholder status at 27.8% and management control.
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