OKX And Korea Investment Securities Bet $106 Million On…

OKX Ventures and Korea Investment & Securities are taking major stakes in Coinone as South Korea’s digital asset market moves toward a new phase shaped by regulated exchanges, security token offerings, stablecoins and institutional participation.

The two investors will each commit KRW 80 billion, or approximately $53 million, and each will acquire a 19.6% stake in Coinone, one of South Korea’s registered virtual asset exchanges. Together, the two investments represent roughly KRW 160 billion, or $106 million, subject to regulatory approvals.

The transaction is not only a capital injection into a smaller Korean exchange. It is a strategic move by a major Korean securities firm and one of the world’s largest crypto groups into regulated digital asset infrastructure at a moment when South Korea is preparing for wider tokenization and stablecoin activity.

After completion, Coinone CEO Cha Myunghun is expected to remain the largest shareholder with 27.8%. Com2uS Holdings and its affiliated company will hold 25.0%, while Korea Investment & Securities and OKX Ventures will become joint third-largest shareholders with 19.6% each.

The investment will be structured through a combination of secondary share purchases from existing shareholders and subscriptions for newly issued shares. Coinone said Cha will retain management control following the transaction.

Korea Investment Securities Wants STOs And Stablecoins

The most important line in the announcement is not the percentage stake. It is Korea Investment & Securities’ stated intention to pursue security token offering and stablecoin businesses with Coinone.

That is where the transaction becomes strategically relevant for the brokerage, exchange and fintech industry.

South Korea has spent several years moving toward a more formal digital asset framework. The country already has one of the world’s most active retail crypto markets, but the next stage is less about speculative token trading and more about regulated financial infrastructure.

Recent legal updates to South Korea’s capital markets framework have created a clearer path for tokenized securities. The amended Capital Markets Act entered into force in February 2026, while over-the-counter brokerage provisions and changes linked to electronic securities are expected to take effect in February 2027. These changes are expected to support growth in tokenized asset transactions, including real-world asset tokenization.

For Korea Investment & Securities, Coinone offers a regulated exchange infrastructure base, user access, blockchain operational expertise and a crypto-native technology layer. For Coinone, KIS brings regulated finance credibility, institutional client relationships, compliance knowledge and capital markets capability.

Korea Investment & Securities CEO Kim Sung-hwan commented, “Through this strategic equity investment in Coinone, we will contribute to building a sound virtual asset ecosystem while accelerating our efforts to secure new growth engines based on virtual assets.”

The announcement also said KIS and Coinone will look for synergies in institutional and derivatives markets and will transfer know-how in compliance areas including anti-money laundering and suspicious transaction detection.

That matters because South Korea’s digital asset market is moving from retail-led trading toward a structure where compliance, institutional safety and regulated product design matter more.

OKX Gets Exposure To One Of Crypto’s Most Valuable Local Markets

For OKX Ventures, the investment gives strategic exposure to a market that remains difficult for offshore players to enter directly at scale.

South Korea is one of the most sophisticated crypto markets globally, with local exchanges, won pairs, strict banking relationships and a retail user base that has repeatedly shown strong appetite for digital assets.

Kaiko has described Korea’s crypto market as concentrated around five major spot exchanges: Upbit, Bithumb, Coinone, Korbit and Gopax. Upbit and Bithumb account for the vast majority of trading activity, with Kaiko noting that the two together represent nearly 96% of total volume in the market.

That concentration makes Coinone strategically interesting despite its smaller market share. A smaller exchange with new capital, regulated finance backing and global crypto infrastructure support may have more room to reposition itself than a dominant incumbent already optimized around existing retail flows.

OKX Global Markets Vice President Netero Dai commented, “South Korea is one of the world’s most sophisticated digital asset markets, and its regulatory framework is highly respected globally. We believe that the future of finance will be built on compliant, well-regulated infrastructure, and our investment in Coinone with Korea Investment & Securities reflects that conviction.”

OKX said it expects to share global market insights, operational experience and best practices with Coinone around user protection, operational resilience, security and risk management.

The partnership may also help OKX build strategic relevance in Korea without relying solely on direct exchange competition.

The Market Is Dominated By Upbit And Bithumb

Coinone’s challenge remains clear: South Korea’s exchange market is extremely concentrated.

Upbit has regularly dominated Korean crypto trading. Reports based on 2025 market data showed Upbit holding around 65% to more than 70% of the domestic market, while Bithumb remained the clear second-largest platform. Coinone, Korbit and Gopax together have often represented only a small share of trading volume.

That makes the $106 million investment significant but not automatically transformative.

Coinone will still need to compete against stronger liquidity, brand recognition and trading habits already concentrated around Upbit and Bithumb.

The strategic opportunity is therefore unlikely to be pure spot market share. It is more likely to sit in new regulated categories where the market is not yet fully captured.

Those categories include:

• security token offerings
• won-denominated stablecoin infrastructure
• institutional crypto services
• regulated derivatives
• tokenized real-world assets
• corporate treasury digital asset services

Coinone CEO Cha Myunghun said, “We selected the best partners in each sector who can maximize synergies with Coinone. With this investment, we aim to secure a leading position in the new arena of blockchain-based digital financial infrastructure.”

He added that Coinone will work with financial authorities to complete the major shareholder change process smoothly.

Why Korean Banks And Securities Firms Are Moving Now

The Coinone transaction follows another major signal from South Korea’s financial sector.

Earlier in May, Reuters reported that Hana Bank would acquire a 6.55% stake in Dunamu, the operator of Upbit, for KRW 1 trillion, or approximately $700 million. That move gave a major Korean bank exposure to the country’s largest crypto exchange operator.

The timing is not accidental.

Korean financial institutions can see that digital assets are moving from a retail exchange business into broader financial infrastructure. Securities firms and banks want to avoid being locked out of stablecoins, tokenized securities, custody, settlement and institutional crypto services.

The Coinone transaction sits inside that same pattern.

Hana Bank moved toward Dunamu. Korea Investment & Securities is moving toward Coinone. OKX is entering as a global crypto infrastructure partner. Together, these transactions suggest that Korea’s regulated finance sector no longer treats crypto exchanges only as speculative trading venues. It increasingly sees them as future distribution and infrastructure partners.

For brokerages, the lesson is broader than Korea.

Where regulation becomes clearer, traditional financial firms often move closer to crypto infrastructure rather than compete from the outside. They buy stakes, form partnerships, share compliance capabilities and use regulated exchanges as entry points into tokenized products.

The Stablecoin Angle Is The Most Important One

Stablecoins may become the largest strategic prize in Korea’s next digital finance cycle.

South Korea has debated frameworks for won-denominated stablecoins, including reserve, audit, custody and supervisory requirements. Legal commentary on proposed reforms has pointed to a model where licensed private issuers may be allowed to issue fiat-backed stablecoins under strict controls.

If Korea permits regulated stablecoins, exchanges and securities firms could become central players in issuance, distribution, custody, redemption and secondary-market liquidity.

That is why KIS mentioning stablecoin businesses with Coinone matters.

A securities firm does not need an exchange stake merely to watch retail crypto trading. It needs exchange infrastructure if it wants access to wallets, digital asset rails, regulated user flows, token issuance capability and transaction monitoring.

Stablecoins could also connect with Korea’s broader capital markets ambitions. Tokenized securities, real-world assets, corporate settlement, remittances and onchain treasury products all require reliable settlement assets. A regulated won stablecoin would become a key infrastructure component if policymakers allow it.

This is the deeper strategic reason the Coinone transaction deserves attention.

What This Means For The Brokerage Industry

The transaction offers several practical lessons for brokerage and fintech operators outside Korea.

First, regulated finance is not waiting for crypto markets to become perfectly mature. Firms are positioning before the next product category opens.

Second, crypto exchanges with modest spot market share can still become valuable if they hold licenses, infrastructure, banking connectivity and compliance capability.

Third, stablecoins and tokenized securities may become more important to traditional brokerages than spot crypto trading itself.

Fourth, global crypto firms increasingly need local partners in regulated markets. OKX’s investment in Coinone gives it exposure to Korea through a local regulated exchange rather than through direct market entry alone.

Fifth, brokerage infrastructure is becoming hybrid. The next generation of platforms may combine securities brokerage, crypto exchange operations, tokenized assets, stablecoin settlement and digital custody.

For Coinone, the investment gives capital and strategic support. For Korea Investment & Securities, it creates a direct path into blockchain-based financial infrastructure. For OKX, it provides a foothold in one of the world’s most competitive regulated crypto markets.

The transaction is subject to regulatory approvals, and Coinone, Com2uS Holdings, Korea Investment & Securities and OKX plan to hold a joint press conference in June to discuss the investment in more detail.

Until then, the strategic message is already clear: South Korea’s digital asset market is shifting from retail exchange competition toward regulated infrastructure positioning.

Infographic: Coinone, OKX And Korea Investment Securities Deal By The Numbers