OKX enters South Korean market through Coinone deal
South Korean crypto exchange Coinone said Korea Investment & Securities (KIS) and OKX Ventures have agreed to invest about $106 million in the platform. In exchange, the investors will receive a combined 19.6% stake.
According to Cointelegraph, the deal still requires regulatory approval. If completed, KIS and OKX Ventures will become Coinone’s third-largest shareholders after CEO Myung-Hun Cha and existing investor Com2uS Holdings.
The transaction includes both the purchase of shares from existing holders and the issuance of new shares. Myung-Hun Cha is expected to remain Coinone’s largest shareholder and retain management control of the company.
Why OKX is investing in a competitor
For OKX, the investment provides access to one of Asia’s most tightly regulated crypto markets. In South Korea, licenses, compliance and meeting regulatory requirements remain key conditions for crypto platforms to operate.
The announcement confirmed earlier rumors that OKX was in talks with KIS to acquire roughly 20% of Coinone. According to media reports, the move was part of OKX’s broader strategy to enter South Korea’s licensed crypto market. At the time, the company declined to comment on those reports.
OKX said the partnership reflects the company’s focus on “compliant and well-regulated infrastructure.” KIS, for its part, plans to work with Coinone on security token offerings and stablecoin businesses as South Korea develops rules for tokenized finance.
Why Coinone is interesting
Coinone is one of the few crypto exchanges in South Korea that operates within the local regulatory framework and is among the country’s notable market players, alongside Upbit, Bithumb and Korbit. For such platforms, banking partnerships, licenses, AML procedures and transaction monitoring are especially important, as South Korea is considered one of Asia’s most tightly regulated crypto markets.
Interest in Coinone is tied to broader changes in South Korea’s crypto market. After the Virtual Asset User Protection Act took effect in 2024, local exchanges came under stricter supervision, while traditional financial companies have become increasingly active in looking for entry points into the digital asset sector. As a result, licensed platforms such as Coinone are becoming not just crypto exchanges, but infrastructure through which banks, brokers and investment firms can access a regulated market.
As a reminder, a few years ago, South Korean authorities stepped up their crackdown on unlicensed crypto exchanges.
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
