OKX is reportedly seeking a 20% stake in South Korean crypto exchange Coinone as foreign and domestic firms compete for market access.
Global crypto exchange OKX is reportedly in talks with Korea Investment & Securities to take a major stake in Coinone, marking the latest shakeup in South Korea’s tightly regulated crypto exchange market.
According to a Friday report by Korean media outlet Yonhap, the two firms are discussing plans to each acquire around 20% of Coinone, mainly through the issuance of new shares rather than the sale of existing stock, a structure that would inject fresh capital while initially leaving management control largely unchanged.
In early April, Korean media reported that Korea Investment & Securities was reviewing a possible acquisition of a stake in Coinone as part of a broader push into digital assets, and that no final decision had been made.
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