OKX and Korea Investment Eye Major Stake in South Korean Crypto Exchange Coinone

Global cryptocurrency exchange OKX is reportedly preparing to expand its presence in South Korea through a strategic investment in Coinone, one of the country’s leading digital asset trading platforms. According to a Friday report from Yonhap News, OKX and Seoul-based investment banking giant Korea Investment and Securities are in discussions to each acquire approximately 20% stakes in Coinone.

The report stated that the proposed investment would be made through the issuance of new shares instead of purchasing existing equity from current shareholders. If completed, the move would strengthen Coinone’s financial position while giving both companies significant influence in one of South Korea’s biggest crypto exchanges.

Coinone remains a major player in the South Korean cryptocurrency market alongside competitors such as Upbit, Bithumb, and CoinW. The exchange has continued to attract attention as global crypto firms increasingly target South Korea due to its active retail trading community and growing digital asset adoption.

Founded in China in 2013, OKX has since expanded globally and now operates from San Jose, California. The company’s potential investment in Coinone signals its ambition to deepen its footprint in Asia’s competitive crypto trading sector.

The reported deal follows Binance’s expansion into South Korea through its acquisition of Gopax, another Seoul-based crypto exchange. Binance initially purchased a majority stake in Gopax more than two years ago before finalizing the acquisition last year.

Industry analysts also noted similarities to Mirae Asset’s reported interest in entering the cryptocurrency exchange business through a potential investment in Korbit, highlighting increasing collaboration between traditional finance firms and digital asset platforms.

At the time of publication, none of the companies involved had publicly commented on the reported negotiations.