In a landmark move poised to significantly impact South Korea’s burgeoning digital asset sector, OKX Ventures, the venture capital arm of leading global cryptocurrency exchange OKX, today announced a substantial investment in Coinone, one of South Korea’s premier crypto exchanges.
This strategic acquisition, valued at 80 billion Korean Won (approximately $53 million USD) for a 19.6% stake, is part of a larger, equally significant investment from Korea Investment & Securities (KIS), a dominant player in South Korea’s financial brokerage industry. Upon completion, KIS will also hold a 19.6% stake. Crucially, the entire deal awaits final regulatory clearance from South Korean authorities, a standard procedure for such high-profile financial maneuvers.
According to reports, the combined investment, totaling an impressive 160 billion Korean Won (approximately $106 million USD), represents one of the largest capital injections by global crypto enterprises into the Korean market. The transaction will be executed through a combination of secondary market share purchases from existing shareholders and subscriptions for new shares.
Upon the successful completion of the investment, Coinone’s leadership structure will see some shifts while maintaining continuity. CEO Cha Myunghun will remain the largest shareholder, retaining a significant 27.8% stake and, critically, operational control of the exchange. Com2uS Holdings and its affiliated companies will hold 25% of the shares, while OKX Ventures and Korea Investment & Securities will emerge as joint third-largest shareholders, each holding 19.6%.
South Korea has long been recognized as a hotbed of cryptocurrency activity, characterized by exceptionally high retail trading volumes. The market is famously known for the “Kimchi Premium,” a unique phenomenon where digital asset prices on Korean exchanges often exceed global averages. This vibrant environment, coupled with the South Korean government’s recent efforts to establish a clearer and more robust regulatory framework for digital assets, has reignited interest from major international institutions seeking entry or expanded presence in the local market.
For OKX, this investment is a clear signal of its accelerating global expansion strategy. Beyond its core exchange operations, OKX has consistently leveraged OKX Ventures to fund innovative projects in blockchain infrastructure and Web3 ecosystem applications. Directly acquiring a stake in Coinone is a pivotal step in strengthening OKX’s footprint and influence across the crucial Asian market.
Amidst intense competition for Asian users from global giants like Binance, Coinbase, and Bybit, the South Korean market’s strategic importance continues to grow. Coinone, as one of the “Big Four” cryptocurrency exchanges in South Korea, is now positioned to potentially leverage OKX’s extensive global liquidity and international resources. Market observers will keenly watch whether this partnership will enable Coinone to significantly expand its market share and further solidify its position in the dynamic South Korean crypto landscape.
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