OKX and Korea Investment Securities Negotiating 40% Coinone Stake

OKX and Korea Investment and Securities are in discussions to acquire a combined 40% stake in Coinone, one of South Korea’s five licensed crypto exchanges. The stake would be split roughly evenly, though the final allocation and price are still being negotiated. The move signals a direct push by the Seychelles-based exchange into a market that has remained largely closed to foreign operators, forcing most to use indirect partnerships or minority investments.

The Coinone Stake and Why It Matters Now

Coinone is the fourth-largest won-denominated exchange by volume. Acquiring a combined 40% stake would give OKX operational influence without outright control, a structure that may ease regulatory scrutiny. The inclusion of Korea Investment and Securities, a major traditional brokerage, adds a layer of local credibility. It also echoes a broader pattern: as South Korean authorities tighten compliance requirements, foreign exchanges are moving from passive observation to active partnerships with licensed local venues.

The timing is deliberate. South Korea’s Financial Intelligence Unit (FIU) has been reviewing exchange registrations, and several smaller platforms have suspended operations. A stake in a fully licensed exchange like Coinone provides a shortcut around a direct licensing process that can take years. OKX would gain access to the country’s deep retail crypto market, where daily trading volumes often exceed those of the KOSPI.

The Binance Precedent and Regulatory Hurdles

Binance completed its acquisition of Gopax in February 2023, taking a majority stake after a protracted negotiation. That deal faced extended review by financial authorities, who demanded guarantees on anti-money laundering controls and user protection. OKX’s talks suggest a similar path, though the presence of a domestic securities firm may reduce friction.