Global crypto exchange OKX is reportedly in discussions to acquire a 20% stake in South Korean crypto exchange Coinone, as the company looks to strengthen its presence in one of Asia’s most tightly regulated digital asset markets.
Key Takeaways
- OKX and Korea Investment & Securities are reportedly considering separate 20% investments in Coinone.
- Coinone confirmed discussions with multiple firms but said no agreement has been finalized.
- The proposed investment may involve newly issued shares to improve Coinone’s capital position.
- The talks come as South Korea’s crypto market sees growing consolidation and tighter regulation.
What Happened?
Reports from local media outlets including Yonhap News said that OKX and Korea Investment & Securities are weighing investments in Coinone, one of South Korea’s largest cryptocurrency exchanges. Coinone later confirmed that discussions are ongoing with several companies regarding strategic investments and partnerships, though it stressed that no final deal has been signed.
The potential deal could mark OKX’s first major foothold in South Korea after the exchange faced regulatory pressure in the country earlier this year.
OKX, the Second Largest Offshore Cryptocurrency Exchange, Discusses Investment in South Korea’s Third Largest Exchange Coinone
— Wu Blockchain (@WuBlockchain) May 15, 2026
According to Yonhap News, OKX is discussing a joint investment with Korea Investment & Securities in Coinone, South Korea’s third largest crypto… pic.twitter.com/4I2zvbCIOV
OKX Eyes Strategic Entry Into South Korea
Founded in 2014 and based in Seoul, Coinone operates as a centralized crypto exchange serving South Korean users with services including digital asset trading, fiat deposits, crypto wallets, and security protections.
According to reports, the proposed investment structure is expected to focus on newly issued shares instead of transfers from existing shareholders. This approach would allow Coinone to raise fresh capital while bringing in strategic investors.
If completed, OKX would become the second major global crypto exchange to secure a meaningful ownership position in a South Korean exchange after Binance previously acquired a stake in Gopax.
The move could help OKX establish a stronger regulatory and operational presence in South Korea, a market known for strict oversight and high crypto trading activity.
Earlier this year, South Korean authorities removed OKX, Binance, and Bybit from local app stores over allegations that the exchanges failed to properly register with the country’s Financial Intelligence Unit.
In 2024, OKX was also reportedly flagged by DAXA, a self regulatory crypto industry organization whose members include Upbit, Bithumb, Coinone, Korbit, and Gopax. The complaint reportedly centered on OKX promoting its Jumpstart token sale platform to Korean users through Telegram influencers without local registration approval.
Coinone Says Discussions Are Ongoing
Coinone acknowledged the reports on Friday, stating that it is currently reviewing multiple strategic partnership opportunities.
Coinone official said:
Korea Investment & Securities also denied that a final agreement had been reached despite reports linking the brokerage to the deal.
Industry observers believe participation from Korea Investment & Securities would likely be financial rather than management focused.
Ownership Restructuring Could Be Ahead
Coinone’s ownership structure may also play a role in the discussions.
Industry data showed that at the end of 2025, The One Group held 34.3% of Coinone, while Com2uS Holdings owned 21.95%. Coinone CEO Cha Myung hoon held 19.14%, and Com2uS Plus controlled 16.47%.
South Korea’s Financial Services Commission has reportedly agreed to apply a 20% ownership cap on crypto exchange shareholders under the upcoming Digital Asset Basic Act. Because several current shareholders exceed that threshold, market analysts expect ownership restructuring to happen regardless of whether the OKX investment moves forward.
The FSC can reportedly allow exceptions up to 34% through enforcement decrees, though no decision has been announced.
South Korea’s Crypto Market Sees Consolidation Wave
The Coinone talks come as South Korea’s digital asset sector enters a broader consolidation phase.
On the same day the OKX report emerged, Hana Financial Group announced plans to acquire a 6.55% stake in Dunamu, the operator of Upbit, in a deal reportedly valued at around $727 million.
Separately, Mirae Asset Consulting previously agreed to acquire a controlling stake in crypto exchange Korbit, though the transaction is still under regulatory review.
Despite being a smaller exchange, Coinone remains attractive because of its regulated status and operational infrastructure. Market data suggests Upbit currently controls roughly 71.6% of South Korean crypto trading volume, while Bithumb accounts for around 25%. Coinone reportedly holds less than 5% of the market.
CoinLaw’s Takeaway
In my experience, global exchanges entering South Korea face one of the toughest regulatory environments in crypto. That is exactly why this potential OKX investment matters. Instead of trying to compete from outside the system, OKX appears to be looking for a compliant local pathway into the Korean market through an established exchange.
I found the timing especially important because South Korea’s crypto industry is clearly moving toward consolidation, institutional involvement, and tighter ownership rules. Even though no agreement has been finalized yet, the talks alone show that major global players still see long term value in regulated Asian crypto markets.
