OKX Ventures, KIS invest $106M in South Korea's Coinone exchange

OKX Ventures, the investment arm of crypto exchange OKX, and Korea Investment & Securities (KIS) are jointly investing KRW 160 billion ($106 million) for a combined 39.2% stake in South Korean cryptocurrency exchange Coinone. Each firm will hold a 19.6% stake upon completion, pending regulatory approval.

The deal, announced Friday, involves a mix of secondary share purchases from existing shareholders and new subscriptions. It represents one of the largest recent investments by a global crypto firm into Korea's digital asset sector, highlighting renewed interest from international players in the Korean market despite regulatory uncertainties.

For crypto traders, this signals growing institutional confidence in Korean exchanges, which often trade at a premium (the "Kimchi premium") relative to global markets. The involvement of KIS, a major brokerage, could also pave the way for more traditional finance-crypto integration in South Korea. Investors should watch for regulatory developments, as approval conditions may impact the deal's timeline and broader market sentiment. NowPrice's real-time crypto quotes can help track any price dislocations between Korean and global exchanges.

Looking ahead, the partnership could boost Coinone's competitiveness against larger rivals like Upbit and Bithumb. The deal also underscores OKX's expansion strategy in Asia, following similar moves in other jurisdictions. Market participants will monitor whether this triggers further M&A activity in the Korean crypto space.