On May 29, Korea Investment & Securities (KIS), a major securities firm in South Korea, and OKX Ventures, the investment arm of crypto exchange OKX, officially signed an agreement to each purchase a 19.6% stake in the Korean crypto exchange Coinone for 80 billion won (approximately $53 million). The combined 39.2% acquisition remains subject to regulatory clearance.
The total 160 billion won transaction will be executed through a combination of buying existing shares and subscribing to new equity. Upon completion, Coinone founder and CEO Cha Myunghun will hold a 27.8% stake, remaining the largest shareholder and retaining management control; Com2uS Holdings and its affiliates will collectively own 25%; KIS and OKX Ventures will tie as the third-largest shareholders.
Expansion into Digital Asset Services
KIS stated that it plans to leverage this equity partnership to promote the issuance and distribution of security token offerings (STOs), expand its corporate virtual asset investment client base, and build out prime brokerage services in the digital asset space. This move underscores how traditional securities firms are embedding themselves deeper into crypto market infrastructure through direct exchange ownership.
Regulatory Tailwinds Fuel Traditional Finance Entry
The transaction comes as South Korean regulators signal a potential relaxation of the strict separation between financial and industrial capital, creating a policy window for financial giants to acquire stakes in virtual asset exchanges. In this environment, several major traditional financial players, including Samsung Securities and Hana Bank, have recently accelerated their efforts to compete for equity positions in Korea's leading crypto exchanges, positioning themselves early in the evolving regulatory landscape.