In a significant development for the South Korean cryptocurrency landscape, Coinone has announced strategic investments from Korea Investment & Securities and global digital-asset exchange OKX. Both firms have acquired a 20% stake in Coinone, positioning them as joint third-largest shareholders in the exchange, which is a notable shift in its ownership structure aimed at bolstering its operational capabilities.
During a press conference held at Parc.1 Tower in Seoul’s Yeouido on June 4, Coinone’s Chief Executive Cha Myunghun emphasized the necessity of merging traditional financial trustworthiness with innovative market solutions at a pivotal moment for the cryptocurrency sector. The involvement of Korea Investment & Securities and OKX is seen as a means to facilitate this blend.
The rationale behind these strategic alliances is clear. Cha noted that while maintaining a 30% stake himself to ensure management continuity, the collaboration will be defined by distinct roles for each party. Korea Investment & Securities will leverage its traditional financial compliance and trust, while OKX will contribute its global technological infrastructure. This arrangement is designed to avoid overlaps and strengthen Coinone’s operational framework amidst an evolving regulatory landscape.
With this new capital infusion, Coinone plans to prioritize the development of security token offerings (STOs) and stablecoin services, seeking to carve out a niche as a comprehensive blockchain-based financial entity. The exchange aims to launch innovative digital finance products that comply with legal standards in the medium term.
Com2uS Holdings, the second-largest shareholder prior to this deal, expressed enthusiasm over the restructuring, underscoring the enhanced credibility that Korea Investment & Securities brings alongside OKX’s technological prowess. Chief Executive Jung Cheol-ho described the partnership as a robust opportunity to create a digital-finance value chain that integrates global liquidity with regulated infrastructure and cutting-edge technology.
Korea Investment & Securities views this investment as a proactive entry into the digital-asset sector, as per Chief Executive Kim Sung-hwan. By securing an early role in bridging traditional finance with the cryptocurrency market, the firm aims to capitalize on anticipated legislative advancements surrounding security tokens and stablecoins. Kim highlighted that Coinone’s impressive security record, without a single incident since its inception, played a crucial role in choosing to invest in the exchange over larger competitors.
In addition, OKX is set to provide comprehensive technical support as part of its partnership with Coinone. Founder and Chairman Star Xu noted South Korea’s advanced standing in the digital-asset market within the Asia-Pacific region. He expressed that OKX intends to share its extensive operating knowledge acquired over 13 years, bolstering Coinone’s capabilities in product development and customer asset protection.
This collaboration not only aims to enhance Coinone’s operational framework but also aspires to establish a trustworthy relationship with regulators, leveraging advanced technologies like AI-based suspicious transaction detection systems. Both Korea Investment & Securities and OKX are committed to helping Coinone build a resilient and compliant infrastructure that meets the demands of both customers and regulatory bodies.
