Korea Investment & Securities, OKX to Jointly Buy 40% of Coinone, Sign Deal on May 29

Korea Investment & Securities and global crypto exchange OKX are moving to jointly acquire a 40% stake in South Korean exchange Coinone.

Korea Investment & Securities and OKX plan to hold a signing ceremony on May 29 for a share purchase that would give each company a 20% stake in Coinone, for a combined 40%, Edaily reported on May 28. The total investment is estimated at 500 billion won to 600 billion won ($363 million to $435 million).

The transaction includes the sale of some existing shares, but most of the deal will be carried out through a new share issuance, the report said. The structure is intended to maximize capital inflows to Coinone.

The investment would give Korea Investment & Securities a base to expand its digital-asset business, including tokenized securities issuance and distribution, virtual-asset services for corporate clients, and prime brokerage.

South Korean securities firms are also stepping up competition to secure stakes in crypto exchanges.

Samsung Securities said on May 28 that it would acquire a combined 4.0% stake in Dunamu with Samsung SDS and Samsung Card for 612.8 billion won ($444 million). Earlier, Hanwha Investment & Securities increased its stake in Dunamu to 9.84%, while Hana Bank also decided to acquire a 6.55% stake.