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.
Also Read: South Korean Exchanges Upbit and Bithumb Expand KRW Markets with Canton and Arcium Listings
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 app was later added back to the Play Store, but Bybit remained blocked
OKX also faced regulatory pressure in 2024 after South Korea’s Digital Asset eXchange Alliance (DAXA) reportedly flagged the exchange to authorities over allegations that 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.
OKX completes the stake and secures its position in South Korea
Coinone now operates under South Korea’s regulatory framework for virtual asset service providers and has a real-name banking relationship that allows it to offer won-based crypto trading. That makes an established local exchange particularly valuable as South Korea tightens oversight while also preparing for wider institutional participation in digital assets.
For OKX, the deal also provides an opportunity to bring its experience in exchange operations, security, risk management and user protection into the Korean market. Coinone has said it expects to use OKX’s global capabilities as part of its efforts to strengthen its competitiveness.
Coinone is significantly smaller than the country’s dominant exchanges, Upbit and Bithumb, but the arrival of two major strategic investors gives it additional capital and institutional backing. Other major financial and technology groups are also building links with Korean crypto platforms. Mirae Asset, for example, took control of Korbit in 2026, while Binance has maintained its investment in Gopax.
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