A significant development in South Korea’s financial landscape was announced during a press conference held at Coinone’s headquarters in Yeouido, Seoul. Kim Sung-hwan, CEO of Korea Investment & Securities, together with Song Byung-joon, Chairman of Com2uS Holdings, Starsch, founder and CEO of OKX, and Cha Myung-hoon, CEO of Coinone, unveiled a groundbreaking “four-way financial alliance.” This coalition aims to establish a comprehensive digital financial platform that integrates traditional financial institutions, domestic and foreign virtual asset exchanges, and domestic gaming content.
The alliance will restructure its stake in Coinone and articulate its mid- to long-term business vision, focusing on developing a robust financial platform that includes token securities (STO) and real-world assets (RWA). CEO Cha emphasized the necessity of such a coalition at this pivotal moment in the market, particularly as the country prepares for the legislation of the Framework Act on Digital Assets. He articulated a vision for Coinone to evolve from a basic exchange into a comprehensive blockchain-based financial entity that supports STO and digital assets amid a landscape populated by 13 million virtual asset investors.
To steer this initiative, Coinone shared a three-step roadmap centered on enhancing market dominance, launching innovative products like STO in the medium term, and ultimately transitioning into a global comprehensive financial platform in the long run. The companies involved also revealed that both Korea Investment & Securities and OKX will acquire a 20% stake each in Coinone, positioning themselves as strategic investors and joint third-largest shareholders alongside existing major stakeholder Cha Myung-hoon, who retains his management control.
Korea Investment & Securities, representing traditional finance in this alliance, aims to create a unified platform that bridges STOs with conventional financial products such as stocks and bonds. Kim Sung-hwan highlighted the potential for traditional assets to evolve into digital formats, reinforcing the alliance’s commitment to innovation in financial services.
On the same day, it was disclosed that Korea Investment & Securities had solicited requests for proposals (RFPs) from key operators to construct its own STO issuance platform, explicitly targeting fixed-type securities such as bonds and money market funds, a strategic move that may ensure data sovereignty and differentiate its service offerings from those of Coinone. This choice underscores a commitment to secure customer investment data while addressing the evolving needs of investors in an increasingly digital financial environment.
