OKX Ventures, the investment arm of crypto exchange OKX, said on May 29 that it will invest 80 billion won (US$53 million), for a 19.6% stake in South Korean crypto exchange Coinone.

Korea Investment & Securities will make the same investment for a separate 19.6% stake, subject to regulatory approval.

The combined 160 billion won (US$107 million) deal, or about $106 million, will include secondary share purchases from existing shareholders and subscriptions for newly issued shares.

The deal will make OKX Ventures and Korean Investment & Securities major shareholders in Coinone.

Coinone is one of South Korea’s five largest spot crypto exchanges, but the market is highly concentrated.

Upbit and Bithumb handled 97.4% of domestic crypto trading volume in the first half of 2025, while Coinone accounted for about 1.8%.

The approval process may face closer review because South Korea has tightened crypto-exchange licensing rules to cover major shareholders.

OKX was also investigated by local authorities in February 2024 over allegations that it marketed unregistered services to South Korean users.

🔗 Source: CoinDesk