According to CoinDesk, Korea Investment & Securities (KIS), one of South Korea's largest securities firms, and OKX Ventures, the investment arm of crypto exchange OKX, officially signed an agreement on May 29. Each party will contribute 80 billion won (approximately $53 million) to acquire 19.6% of Korean crypto exchange Coinone, totaling 39.2% of the shares. The 160 billion won transaction will be carried out through both the purchase of existing shares and subscription to new shares, pending regulatory approval.
After the deal, Coinone founder and CEO Cha Myunghun will retain a 27.8% stake and remain the largest shareholder with management control. Game company Com2uS Holdings and its affiliates hold 25%, while KIS and OKX Ventures will become the third-largest shareholders on par.
Transaction Structure and Ownership Changes
The infusion is not a simple equity transfer. The 160 billion won will be used to buy shares from existing holders and to subscribe to newly issued shares, providing an exit for early investors and fresh capital for the exchange. Post-transaction, Cha Myunghun's nearly 30% stake ensures continued founder leadership and control over daily operations.
Traditional Finance Ramps Up Tokenized Securities Push
KIS stated it will leverage the partnership to promote the issuance and distribution of security token offerings (STOs), expand corporate clients in virtual assets, and develop digital asset prime brokerage services. OKX Ventures' involvement brings global exchange resources and expertise to Coinone.
The deal coincides with recent signals from South Korean regulators that they may relax the principle of separating financial assets. Traditional giants such as Samsung Securities and Hana Bank have been accelerating their bids for stakes in virtual asset exchanges, underlining the deepening convergence between traditional finance and crypto.