OKX Ventures said Friday that it is investing 80 billion won, approximately $53 million [1], for a stake in South Korean exchange Coinone [1].
This move allows the investment arm of the OKX cryptocurrency exchange to secure a strategic foothold in one of the world's most active digital-asset markets. The expansion comes as global platforms face shifting regulatory landscapes and increased competition within East Asia [3].
Reports on the exact size of the acquisition vary slightly between sources. Coindesk said the stake was 19.6% [1], while CryptoBriefing said the figure was 20% [4]. These figures represent a decrease from earlier reports on May 15, which suggested the investment could reach up to 40% [5].
The investment is part of a broader trend of global crypto entities seeking local partnerships to navigate South Korea's specific legal requirements. This strategy follows similar competitive moves by other industry giants, such as the acquisition of Gopax by Binance [3].
While some reports suggested that OKX Ventures was partnering with Korea Investment & Securities to take these stakes [6], other reports said that OKX Ventures is acting alone in this investment [1].
Coinone remains one of the primary cryptocurrency exchanges operating within South Korea. By integrating with a local player, OKX aims to better respond to the growing demand for digital assets in the region while mitigating the risks associated with entering a highly regulated market independently [3].
“OKX Ventures is investing 80 billion won, approximately $53 million, for a stake in South Korean exchange Coinone.”
The acquisition signals a shift toward 'localized' growth for global crypto exchanges. Rather than attempting to launch independent operations in South Korea, which is fraught with strict regulatory hurdles, OKX is utilizing a minority stake in an established local entity. This allows them to capture market share and user data while leveraging Coinone's existing compliance infrastructure.
