OKX Ventures, the investment arm of global crypto exchange OKX, has acquired a roughly 20% stake in South Korean exchange Coinone, becoming a joint third-largest shareholder alongside Korea Investment & Securities. The deal, structured through secondary share purchases and new share subscriptions, gives Coinone access to OKX’s trading infrastructure—including its matching engine, custody technology, and wallet systems—while OKX gains a direct foothold in one of Asia’s most active and tightly regulated markets without having to build a standalone Korean exchange from scratch.
Korean reports indicate that both OKX Ventures and Korea Investment & Securities invested about 80 billion won (approximately $53 million) each for a stake of around 19.6%, with newer filings showing OKX at a 20% equity holding. Following the transaction, Coinone founder and CEO Cha Myunghun remains the largest shareholder and retains management control, while Com2uS Holdings and its affiliates continue as the second-largest shareholder group. The infusion of capital and technology is expected to overhaul Coinone’s user fund handling, settlement, and compliance posture—a critical upgrade given South Korea’s stringent licensing requirements and past penalties for asset segregation gaps.
The investment arrives as Korean regulators tighten surveillance on exchange risk controls and advance broader digital asset legislation covering investor protection, stablecoins, and tokenized securities. Coinone, which has struggled to gain ground against Upbit’s dominant >80% market share, plans to combine OKX’s global infrastructure with Korea Investment & Securities’ traditional finance expertise. If successfully integrated, the partnership could narrow the gap by offering institutional clients deeper order books, faster execution, and a more robust custody environment, while OKX deepens its access to Korean liquidity and regulatory know-how.
Still, the deal is likely to draw scrutiny from the Financial Services Commission, particularly regarding data sovereignty and whether OKX’s operational influence stays within the local audit perimeter. The next three to six months will be crucial as Coinone seeks to pass external audits and verify real-name account requirements. In the longer term, the acquisition highlights a growing trend of offshore platforms buying into local licenses rather than building afresh, thinning the boundaries between domestic Korean exchanges and global players.
