OKX Ventures and KIS to invest $53 million each for a 19.6% stake in Coinone, deepening ties between traditional finance and crypto in South Korea’s tightly regulated market.
South Korean crypto exchange Coinone said Korea Investment & Securities (KIS) and OKX Ventures agreed to invest a combined 160 billion won ($106 million) for a 19.6% stake in the platform.
The investment, which remains subject to regulatory approval, would make KIS and OKX Ventures joint third-largest shareholders in Coinone behind CEO Myung-Hun Cha and existing backer Com2uS Holdings, according to a release shared with Cointelegraph.
The transaction combines secondary share purchases from existing holders with newly issued shares, while Cha is expected to remain Coinone’s largest shareholder and retain management control.
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