OKX said to pursue 20% stake in South Korean crypto exchange Coinone

OKX, the prominent crypto exchange backed by Intercontinental Exchange (ICE), and Korea Investment & Securities (KIS), the main brokerage subsidiary of Korea Investment Holdings, are weighing approximately 20% stakes each in Coinone, according to Yonhap News.

Founded in 2014, Coinone is a centralized crypto exchange operating out of Seoul that serves primarily South Korean users. It supports trading across a wide range of digital assets while providing services including fiat deposits, crypto wallets, and account security protections.

The proposed structure is reportedly expected to focus on newly issued shares rather than transfers of existing holdings, a mechanism intended to strengthen Coinone’s capital position through fresh inflows.

Market observers also suggested the Korean securities firm’s participation would likely be financial in nature rather than aimed at direct management involvement.

KIS has denied that any definitive agreement has been reached regarding a stake acquisition in the crypto exchange.

If approved, OKX would become the second global exchange to hold a significant ownership position in a South Korean crypto platform, following Binance’s earlier acquisition of Gopax.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.