On May 15, 2026, reports emerged that global cryptocurrency giant OKX is advancing plans to acquire a significant minority stake in Coinone, one of South Korea’s Big Five digital asset exchanges. The move, conducted in partnership with Korea Investment & Securities Co., signals an accelerating trend of global and traditional financial institutions aggressively carving out positions in the South Korean crypto market.
Global Entry into South Korea
According to a report from Yonhap News Agency, OKX and Korea Investment & Securities are each looking to purchase approximately 20% stakes in the exchange. Rather than purchasing existing equity from current holders, Coinone is expected to issue new shares to facilitate the transaction.
Industry analysts note that this investment is unlikely to alter Coinone’s current management structure. However, if the deal receives regulatory approval, OKX would become the second major global exchange to secure a significant foothold in a South Korean platform, following Binance’s previous acquisition of a majority stake in Gopax.
Shifting Competitive Landscape
The news of OKX’s interest in Coinone is part of a broader “institutional gold rush” currently sweeping the South Korean ecosystem. Earlier on Friday, banking giant Hana officially announced a massive $670 million investment in Dunamu, the parent company of the market-leading exchange Upbit.
This follows a February move by the financial conglomerate Mirae Asset, which acquired a 92% stake in Korbit. While the local market is currently dominated by the Big Two, Upbit and Bithumb, Coinone remains one of only five exchanges authorized to provide fiat-to-crypto services, making it a highly valuable target for firms looking to enter the region’s regulated landscape.
Regulatory Headwinds and Ownership Caps
The influx of corporate capital comes just as South Korean authorities prepare to tighten oversight via the Digital Asset Basic Act. Local financial regulators are currently discussing strict ownership limits to prevent market concentration. Reports suggest a proposed 34% ownership cap for corporate entities and a 20% cap for individual investors.
Currently, Coinone’s ownership is fragmented among several major players:
- The One Group: 34.3% (Largest shareholder)
- Cha Myung-hoon (Founder): 19.14%
- Com2uS Holdings: 21.95%
- Com2uS Plus: 16.47%
The proposed entry of OKX and Korea Investment & Securities would significantly diversify this cap table. While Coinone and OKX have yet to issue official statements regarding the finalized terms, the deal underscores a shift where digital assets are no longer alternative bets, but core components of institutional strategy in East Asia.
