OKX Ventures and TradFi giant Korea Investment & Securities each acquired matching 19.6% stakes in South Korea’s fourth-largest crypto exchange, Coinone, in a deal worth KRW 80 billion (approximately $53 million) each. The combined $106 million investment is currently pending regulatory approval from South Korean authorities.
Key Details of the Deal.
- The Valuation/Stake: The $53 million investment gives OKX Ventures a 19.6% ownership share in Coinone.
- Co-Investors: Korea Investment & Securities matched the investment, acquiring a matching 19.6% stake.
- Regulatory Status: The $106 million dual-investment is subject to approval by South Korean regulators.
Strategic Impact.
- Global Reach: The partnership bridges a leading global exchange platform (OKX, which boasts over 120 million users) with a localized South Korean market player.
- TradFi Integration: Pairing OKX with a traditional finance powerhouse like Korea Investment & Securities positions Coinone to aggressively pursue Security Token Offerings (STOs) and deeper decentralized and traditional finance (DeFi/TradFi) products.
