- OKX: Ventures is investing $53 million in South Korea’s Coinone to obtain a 19,6% stake.
- The brokerage company Korea Investment & Securities will invest the same amount in Coinone.
OKX: Ventures, the investment arm of the cryptocurrency exchange OKX:, will invest $53 million to purchase a 19,6% stake in the South Korean cryptocurrency exchange Coinone. This is one of the largest investments by a global crypto company in South Korea’s digital asset sector. Korea Investment & Securities (KIS), one of the country’s largest brokerage firms, will also invest the same amount in Coinone.
Vice-president OKX: Global Markets’ Netero Dai called South Korea one of the world’s most developed digital asset markets and noted that the country’s regulatory framework is respected internationally.
We believe the future of finance will be built on a compliant, well-regulated infrastructure, and our investment in Coinone, together with Korea Investment & Securities, reflects this confidence,” the top manager wrote.
Following the investment, Coinone CEO Cha Myung-hoon is expected to remain the exchange’s largest shareholder with a 27,8% stake and retain management control. Com2uS Holdings and its subsidiaries will own 25% of the shares, and OKX: Ventures and KIS will become the third largest shareholders.
According to company representatives, OKX: Ventures and Coinone also plan to exchange expertise in user protection, security, and risk management. Meanwhile, KIS announced its collaboration on security tokens and stablecoins.
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