OKX Ventures has agreed to buy a 19.6% stake in South Korean crypto exchange Coinone through a $53 million investment, strengthening its position in one of Asia’s biggest digital asset markets.
According to Coinone, the deal is part of a strategic investment agreement involving OKX Ventures, Korea Investment & Securities (KIS), and South Korean gaming company Com2uS along with its affiliate.
If regulators approve the transaction, both OKX Ventures and KIS will each own 19.6% of Coinone after investing 80 billion won, or about $53 million, each.
Coinone said the two companies will become the exchange’s joint third-largest shareholders. CEO Cha Myung-hun will remain the biggest shareholder with a 27.8% stake, while Com2uS Holdings and its affiliate together control 25%.
The transaction will include both the purchase of existing shares from current owners and subscriptions to newly issued shares.
The investment highlights growing interest from global crypto companies in South Korea’s regulated digital asset market. It also follows Binance’s earlier investment in rival exchange Gopax.
Netero Dai, vice president of OKX Global Markets, described South Korea as one of the world’s most advanced crypto markets. He said the company believes the future of finance will depend on strong regulation and compliant infrastructure.
Along with the investment, Coinone and OKX Ventures plan to cooperate on areas such as user protection, security systems, and risk management.
Korea Investment & Securities also said it wants to explore opportunities involving stablecoins and tokenized securities as South Korea continues developing digital asset regulations.
The deal comes as major South Korean financial firms increase their exposure to crypto markets.
Earlier this week, three Samsung subsidiaries announced plans to invest around $408 million in Dunamu, the parent company of Upbit, for a combined 4% ownership stake.
In February, Mirae Asset also revealed plans to acquire a 92% stake in crypto exchange Korbit.
Several large South Korean financial institutions, including KB Kookmin, Shinhan, and NHN KCP, have also partnered with blockchain networks like Solana and Avalanche to test stablecoin and tokenized payment systems.
Meanwhile, South Korean lawmakers continue working on the proposed Digital Asset Basic Act, which is expected to become the country’s main crypto regulatory framework, although the final launch date is still unclear.
The announcement also comes shortly after Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, expanded its partnership with OKX to support perpetual oil futures linked to Brent and WTI benchmarks.
