OKX Ventures invests $53 million to acquire a stake in South Korean crypto exchange Coinone

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OKX Ventures, the venture capital arm of global top-tier cryptocurrency exchange OKX, announced today (29th) that it will invest 80 billion Korean won (approximately 53 million US dollars) to acquire a 19.6% stake in South Korean cryptocurrency exchange Coinone, marking one of the largest investments by a global cryptocurrency enterprise in South Korea's digital asset sector. What's even more noteworthy is that South Korea's top brokerage giant "Korea Investment & Securities (KIS)" will make an investment of the same scale, and will also hold a 19.6% stake after the transaction is completed. However, this deal still awaits final approval from South Korean regulators. According to reports, this investment deal, totaling 160 billion Korean won (approximately 106 million US dollars), will be completed through two methods: purchasing secondary market shares from existing shareholders and subscribing to new shares. After the investment is completed, Coinone CEO Cha Myunghun will retain his position as the exchange's largest shareholder with a 27.8% stake and maintain operational control; Com2uS Holdings and its affiliated companies will hold 25% of the shares, while OKX Ventures and Korea Investment & Securities will jointly rank as the third-largest shareholders. South Korea has long been one of the most active cryptocurrency trading markets globally, with particularly high retail trading enthusiasm. According to numerous past statistics, the South Korean market frequently exhibits the so-called "Kimchi Premium," a special phenomenon in which prices on Korean exchanges are higher than the global average. In addition, the South Korean government has gradually established a clearer digital asset regulatory framework in recent years, prompting major international institutions to reassess opportunities to enter the local market. For OKX, this investment also represents the continued expansion of its global presence. In recent years, in addition to actively expanding its exchange business, OKX has continuously invested in blockchain infrastructure and Web3 ecosystem applications through OKX Ventures. Now, directly taking an equity stake in Coinone is also viewed as an important step for OKX in strengthening its influence in the Asian market. Particularly against the backdrop of ongoing competition for Asian users among exchanges such as Binance, Coinbase, and Bybit, the importance of the South Korean market is rising once again. As one of South Korea's four major cryptocurrency exchanges, whether Coinone will leverage OKX's global liquidity and international resources to further expand its market share has also become a focal point for subsequent market observation.

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