OKX Ventures, Korea Investment & Securities to Buy 19.6% Coinone Stake for $106M

Why It Matters

The investment deepens global crypto firms’ foothold in South Korea’s regulated market and signals accelerating institutional participation in tokenized finance.

Key Takeaways

• OKX Ventures and KIS acquire 19.6% of Coinone for $106 M.
• Stake makes them joint third‑largest shareholders behind CEO and Com2uS.
• Deal combines secondary purchases and new share issuance, pending regulator sign‑off.
• OKX gains foothold in South Korea’s tightly regulated crypto market.
• KIS plans security token offerings and stablecoin services through Coinone.

Pulse Analysis

South Korea’s crypto landscape is undergoing a rapid transformation, driven by stricter regulations and growing institutional interest. The Virtual Asset User Protection Act, which took effect in 2024, imposed tighter AML and transaction‑monitoring standards on exchanges such as Coinone, Upbit, and Bithumb. In this environment, Coinone’s decision to sell a 19.6% stake to OKX Ventures and Korea Investment & Securities (KIS) for about $106 million underscores how capital is flowing toward platforms that can demonstrate robust compliance and licensing. The transaction blends secondary share sales with new issuance, a structure that preserves founder Myung‑Hun Cha’s control while injecting fresh strategic partners.

For OKX Ventures, the partnership offers a direct line into one of Asia’s most regulated crypto markets, complementing its global expansion strategy that emphasizes compliant infrastructure. By aligning with a domestic exchange, OKX can navigate licensing hurdles more efficiently and potentially launch localized products. KIS, a traditional securities firm, sees the deal as a gateway to tokenized finance, planning to develop security token offerings and stablecoin services through Coinone’s platform. This mirrors a broader trend where legacy financial institutions are leveraging crypto exchanges to diversify revenue streams and meet evolving client demand for digital assets.

The broader implications for South Korea are significant. Recent deals—Mirae Asset’s acquisition of a 92% stake in Korbit and Hana Financial Group’s $668 million investment in Dunamu—illustrate a wave of institutional money reshaping the market. As regulators prepare a second legislative phase covering stablecoins and tokenized securities, exchanges with strong compliance records like Coinone are poised to become preferred partners for banks and asset managers. The influx of capital could intensify competition, accelerate product innovation, and ultimately position South Korea as a leading hub for regulated digital‑asset services in the region.