OKX Ventures buys $53 million stake in Korea's Coinone exchange
Summary
OKX Ventures and Korea Investment & Securities each plan to invest KRW 80 billion ($53 million) in South Korean crypto exchange Coinone, giving each a 19.6% stake if approved. The combined KRW 160 billion ($106 million) deal, pending regulatory clearance, will use both secondary share purchases and new share subscriptions. Coinone CEO Cha Myunghun is expected to remain the largest shareholder with 27.8% and keep management control, while Com2uS Holdings and affiliates will hold 25%. The investment is among the largest recent global crypto moves into Korea’s digital asset market.
