In a significant move reflecting the increasing intersection of traditional finance with the cryptocurrency sector, Korea Investment & Securities has committed to acquiring a 20 percent stake in the cryptocurrency exchange Coinone. This deal, announced on Friday, represents a pivotal shift as established financial institutions begin to venture more aggressively into the burgeoning digital asset market in South Korea.
The investment agreement involves both Korea Investment & Securities and OKX Ventures, the investment arm of the global cryptocurrency exchange OKX, each acquiring a 20 percent stake through a mix of newly issued shares and existing shares sold by Coinone’s CEO Cha Myung-hoon and Com2uS Holdings. Despite this dilution, Cha will remain the largest shareholder, holding 30.36 percent of Coinone, while Com2uS Holdings retains a 24.54 percent stake. With this transaction, both Korea Investment & Securities and OKX Ventures become joint third-largest shareholders.
This strategic investment positions Korea Investment & Securities to leverage emerging opportunities within the digital finance landscape, particularly in areas such as tokenized securities, stablecoins, and blockchain-based financial services, as the country moves toward a formal regulatory framework for digital assets.
Kim Sung-hwan, CEO of Korea Investment & Securities, emphasized the importance of this partnership, stating that it marks a foundational step in their expansion from traditional finance into blockchain-centric financial services. This sentiment is echoed by Netero Dai, head of global markets at OKX Ventures, who highlighted South Korea’s status as one of the world’s most mature digital asset markets, noting its highly regarded regulatory framework.
The collaboration is also expected to enhance Coinone’s capabilities in investor protection, security, and risk management, ultimately strengthening the exchange’s market position. Cha Myung-hoon articulated the choice of investors as strategic partners capable of fostering synergies across finance, technology, and digital assets, and reiterated the company’s commitment to engaging with regulators regarding the changes in shareholder structure.
As the next step, the involved parties plan to hold a joint media briefing in June to share further details about their partnership and outline prospective areas for collaboration. This partnership signals a promising future for both traditional investment firms and cryptocurrency exchanges as they navigate the evolving landscape of digital finance in South Korea.
