South Korea’s Korea Investment & Securities and global crypto exchange OKX are reportedly in separate early-stage negotiations to acquire approximately 20% stakes in the Seoul-based digital asset exchange Coinone, according to initial reports from Yonhap News and Korea Economic Daily TV. However, all parties have since issued clarifications stating that no binding agreement has been reached and the matter remains at an internal review stage.
The proposed investments, structured through new share issuances rather than the sale of existing shares, aim to inject fresh capital into Coinone without altering its current management control. Coinone – one of South Korea’s five licensed crypto exchanges – confirmed it is in discussions with multiple companies regarding strategic equity investments and partnerships, but emphasized that nothing has been finalized. Korea Investment & Securities echoed this, noting the acquisition idea is only under internal review with no concrete decision made. OKX, which would gain a regulated foothold in a market notoriously difficult for foreign entities to enter, has not issued a separate statement beyond the companies’ denials.
The talks highlight a cautious but growing convergence between traditional finance and the regulated South Korean crypto sector. Any completed deal would require approval from the Financial Services Commission, particularly given OKX’s past regulatory challenges outside Korea. Coinone’s smaller but stable market share could strengthen with the backing of a major domestic securities firm and a global exchange, but for now the situation remains fluid and unconfirmed.
