Key Takeaways
- • OKX and Korea Investment and Securities are in advanced discussions to jointly acquire a combined 40% stake in Coinone, South Korea's third-largest crypto exchange, with each entity targeting approximately 20% ownership.
- • The investment structure involves issuing new shares rather than purchasing existing equity, positioning both entities as significant stakeholders in one of South Korea's licensed crypto trading venues.
- • OKX's South Korean expansion mirrors Binance's 2025 acquisition of Seoul-based Gopax, signaling accelerated competition among global crypto platforms for regional market presence amid regulatory stabilization.
- • Korea Investment and Securities' entry into crypto represents a broader trend of traditional financial institutions (TradFi) expanding into digital assets, following peer Mirae Asset's concurrent acquisition discussions with Korbit.
- • Coinone ranks among South Korea's five major licensed crypto exchanges alongside Upbit, Bithumb, and CoinW, making the transaction strategically significant for OKX's regional positioning.
Summary
OKX, the global cryptocurrency exchange headquartered in San Jose, California, is pursuing a strategic entry into South Korea's crypto market through a joint investment with Seoul-based investment bank Korea Investment and Securities. According to Yonhap News on May 15, 2026, the two parties are in discussions to acquire a combined 40% stake in Coinone, one of the country's largest crypto trading platforms, with each entity targeting approximately 20% ownership. The investment structure involves the issuance of new shares rather than the acquisition of existing equity, a distinction that clarifies the capital-raising mechanism for Coinone.
OKX's planned expansion into South Korea follows the precedent set by Binance, the world's largest cryptocurrency exchange, which completed its acquisition of Seoul-based Gopax in 2025 after securing an initial majority stake over two years prior. This pattern underscores the strategic importance of the South Korean crypto market to global exchange operators, particularly as regulatory frameworks in the region have matured. Coinone competes directly with other major South Korean platforms including Upbit, Bithumb, and CoinW, positioning this investment as a material move to establish local market prominence.
Korea Investment and Securities' involvement in the transaction reflects a broader institutional shift toward crypto market participation by traditional financial firms. This move parallels Mirae Asset's concurrent pursuit of a controlling stake in Korbit, another South Korean crypto exchange. Such developments suggest that major Korean financial institutions are reassessing digital asset trading as a core business opportunity rather than a peripheral market exposure.
As of the announcement date, none of the three companies directly involved—OKX, Korea Investment and Securities, or Coinone—had publicly commented on the discussions. The investment remains subject to completion of negotiations and satisfaction of regulatory requirements in South Korea's increasingly structured crypto licensing regime.
OKX's planned expansion into South Korea follows the precedent set by Binance, the world's largest cryptocurrency exchange, which completed its acquisition of Seoul-based Gopax in 2025 after securing an initial majority stake over two years prior. This pattern underscores the strategic importance of the South Korean crypto market to global exchange operators, particularly as regulatory frameworks in the region have matured. Coinone competes directly with other major South Korean platforms including Upbit, Bithumb, and CoinW, positioning this investment as a material move to establish local market prominence.
Korea Investment and Securities' involvement in the transaction reflects a broader institutional shift toward crypto market participation by traditional financial firms. This move parallels Mirae Asset's concurrent pursuit of a controlling stake in Korbit, another South Korean crypto exchange. Such developments suggest that major Korean financial institutions are reassessing digital asset trading as a core business opportunity rather than a peripheral market exposure.
As of the announcement date, none of the three companies directly involved—OKX, Korea Investment and Securities, or Coinone—had publicly commented on the discussions. The investment remains subject to completion of negotiations and satisfaction of regulatory requirements in South Korea's increasingly structured crypto licensing regime.
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