OKX and KIS Invest $106 Million in Coinone Crypto Exchange

OKX and Korea Investment & Securities acquire a combined 39.2% stake in Coinone for $106 million as South Korea's crypto regulations undergo a major shift.

This move arrives as South Korea accelerates sector reforms, preparing a new regulatory framework that could fundamentally reshape the local crypto industry.

According to local media reports, the investment by OKX is not a solo venture. Simultaneously, Korea Investment & Securities (KIS)—one of the country’s largest brokerage firms—is acquiring an identical 19.6% stake for the same amount. Together, the two organizations will control 39.2% of Coinone.

The total capital entering Coinone through these dual transactions reaches approximately 160 billion won, or roughly $106 million. Analysts view the operation as one of the most significant investments in the South Korean crypto industry in recent years.

Structure Designed to Preserve Management Control

Unlike other acquisitions in the crypto sector, this transaction is carefully structured to avoid changes in the exchange’s governance. The deal involves a combination of new share issuance and the acquisition of existing stakes from current investors.

This setup allows fresh capital to flow directly into the company while maintaining the existing balance of power. Coinone founder and CEO Cha Myung-hoon remains the largest individual shareholder with a 27.8% stake, ensuring his control over strategic decisions and the platform’s future development.

Following him is the technology group Com2uS and its affiliates, holding an interest of approximately 25%. Consequently, the new investors gain significant influence but do not hold management control.

South Korea Emerges as a Critical Crypto Frontier

For OKX, the deal holds strategic importance that far exceeds financial returns. South Korea has traditionally been one of the world’s most active markets for cryptocurrency trading, yet it remains one of the most difficult for foreign operators to enter.

Local regulators maintain strict requirements regarding banking partnerships, licensing, and Know Your Customer (KYC) procedures. Obtaining a new license for a crypto exchange is exceptionally difficult in practice, making the acquisition of a stake in an already licensed platform a much more attractive alternative.

Through this investment, OKX gains indirect access to the local ecosystem without the need to build its own infrastructure or manage a complex regulatory approval process.

Preparing for Financial Market Tokenization

The motivations for Korea Investment & Securities are different. The company views Coinone as a potential platform for the future development of tokenized financial products.

The financial institution has already expressed interest in Security Token Offerings (STOs), digital bonds, tokenized assets, and future projects involving stablecoins. Collaboration with Coinone could provide the necessary infrastructure to develop such products within the new regulatory boundaries.

This deal occurs amidst broader consolidation in the South Korean crypto sector. Earlier this year, Hana Financial Group also signaled intentions for a significant investment in Dunamu—the operator of Upbit, the country’s largest crypto exchange.

This trend highlights a tightening convergence between traditional financial institutions and the digital asset industry. For investors, it signals that South Korea is preparing for the next phase of market evolution, where licensed exchanges, banks, and brokers will play an increasingly integrated role in building digital asset infrastructure.