Summary
- Korea Investment & Securities and OKX are discussing a plan to each acquire about a 20%% stake in Coinone, Yonhap reported.
- The Coinone stake talks come as financial firms and large corporations expand investments in domestic cryptocurrency exchanges.
- Earlier deals included Mirae Asset Consulting’s $96.7 million purchase of a 92.06%% stake in Korbit and Hana Financial Group’s about $727.0 million acquisition of a 6.55%% stake in Dunamu.
Forecast Trend Report by Period
Korea Investment & Securities is in talks with global digital-asset exchange OKX to acquire stakes in South Korean cryptocurrency exchange Coinone, Yonhap News reported on May 15.
The two companies are discussing a plan to buy about 20% of Coinone each, the report said.
Coinone’s largest shareholder is The One Group, which holds 34.30%. The other major shareholders are Com2uS Holdings with 21.95%, Chief Executive Officer Cha Myung-hoon with 19.14%, and Com2uS Plus with 16.47%. Cha founded Coinone and is also the largest shareholder of The One Group.
The discussions come as financial companies and large corporations increase investments in South Korean crypto exchanges.
Mirae Asset Consulting, an affiliate of Mirae Asset Group, previously agreed to acquire a 92.06% stake in Korbit for $96.7 million, and the deal is under review by the Fair Trade Commission. Hana Financial Group also said on May 15 that it would acquire a 6.55% stake in Dunamu, the operator of Upbit, for about $727.0 million to cooperate on foreign-currency remittances and a won-denominated stablecoin business.
YM Lee
20min@bloomingbit.ioCrypto Chatterbox_ tlg@Bloomingbit_YMLEE
