South Korean crypto exchange Coinone is reportedly set to receive strategic investments from global crypto platform OKX and Korea Investment & Securities, marking another big move in the country’s rapidly evolving digital asset market.
According to a Friday report by Yonhap News Agency, OKX and Korea Investment & Securities are each seeking to acquire around a 20% stake in Coinone through a new share issuance. The deal is reportedly structured to avoid changes to Coinone’s current management.
Korea Investment Securities and OKX are reportedly in talks to jointly acquire roughly 20% each of Coinone, one of Korea’s licensed won-denominated exchanges. The deal would be structured around new share issuance rather than existing stock, meaning fresh capital flows into… pic.twitter.com/vASDpXOFJb
— Tony Chung (@jayc_BM) May 15, 2026
If completed, the transaction would make OKX the second global crypto exchange to secure a significant ownership position in a South Korean trading platform after Binance acquired a stake in Gopax.
Coinone remains one of only five crypto exchanges in South Korea licensed to provide fiat-to-crypto trading services. However, the market remains heavily dominated by Upbit and Bithumb.
Crypto firms race for the South Korean market
The reported investment comes amid increasing competition and consolidation within South Korea’s crypto industry. Earlier on Friday, banking giant Hana Financial Group announced plans to acquire a $670 million stake in Dunamu, the operator of Upbit.
In another major development earlier this year, Mirae Asset revealed plans to acquire a 92% stake in Korbit, one of the country’s oldest crypto exchanges.
The recent wave of investments highlights growing institutional interest in South Korea’s digital asset sector despite tighter regulatory scrutiny.
OKX’s regulatory challenges in South Korea
The proposed Coinone deal would also give OKX its first licensed foothold in South Korea, a market the exchange has struggled to enter directly. In January 2026, South Korean authorities removed OKX, Binance, and Bybit from local app stores for allegedly operating without registration under the country’s Financial Intelligence Unit rules.
OKX also faced regulatory pressure in 2024 after South Korea’s Digital Asset eXchange Alliance (DAXA) reportedly flagged the exchange to authorities over allegations it promoted its Jumpstart token sale platform to Korean users through Telegram influencers without securing local approval.
Ownership limits under review
South Korean regulators are also discussing stricter ownership rules for crypto exchanges under the proposed Digital Asset Basic Act. Local reports suggest authorities are considering a 34% ownership cap for corporations and a 20% limit for individual shareholders in crypto trading platforms.
Currently, The One Group remains Coinone’s largest shareholder with a 34.3% stake, while founder Cha Myung-hoon owns 19.14%. Gaming company Com2uS Holdings and its affiliate Com2uS Plus also hold significant stakes in the exchange. Both The One Group and Com2uS Holdings currently exceed the proposed 20% ownership threshold being considered by regulators, making a shareholder restructuring increasingly likely regardless of the outcome of OKX’s investment discussions.
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