South Korean crypto exchange Coinone announced that Korea Investment & Securities (KIS) and OKX Ventures have agreed to invest a total of 160 billion KRW (approximately 106 million USD) to acquire a 19.6% stake in the platform. The deal is subject to regulatory approval, reports Cointelegraph.com. reports .
Under this investment project, KIS and OKX Ventures will become the third-largest shareholders after Coinone CEO Myung-Hun Cha and Com2uS Holdings. The agreement involves both the purchase of secondary shares from existing shareholders and the issuance of new shares. Myung-Hun Cha will remain the largest shareholder and retain management control.
This strategic partnership provides OKX Ventures with access to one of Asia's most strictly regulated crypto markets. OKX representatives stated that the partnership reflects the company's focus on secure and compliant infrastructure. Meanwhile, KIS plans to collaborate with Coinone on security token (STO) and stablecoin projects as tokenized finance regulations evolve in South Korea.
Following the enactment of the Virtual Asset User Protection Act in South Korea in 2024, oversight of the crypto sector has significantly tightened. Exchanges such as Upbit, Bithumb, Coinone, and Korbit are now required to adhere to strict anti-money laundering (AML) requirements.
At the same time, the Seoul government is gradually opening doors for traditional financial institutions to enter the digital asset market. In February, Mirae Asset Consulting agreed to acquire a 92.06% stake in the Korbit exchange, signaling growing integration between traditional finance and the crypto sector in the country.
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