OKX’s Wild Ride: 20% Stake in Coinone or Just Another Galactic Hitch?

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In a move that would make even the most jaded space traveler raise an eyebrow, OKX has apparently decided that South Korea is the new Mars. Yes, you heard that right. OKX is now in talks to snag a whopping 20% stake in Coinone, alongside Korea Investment & Securities, because why stop at the stars when you can colonize crypto exchanges too?

  • OKX and Korea Investment & Securities are reportedly eyeing roughly 20% stakes each in Coinone, because sharing is caring, even in the cutthroat world of crypto.
  • If this deal goes through, OKX will join the elite club of overseas exchanges with a major stake in a South Korean platform, following Binance’s daring leap into Gopax. It’s like a galactic arms race, but with more spreadsheets.
  • Meanwhile, South Korean authorities are busy debating new ownership limits for crypto exchanges, because nothing says “we’re serious” like a good old-fashioned regulatory scramble. Hana and Mirae Asset are also in the mix, presumably sharpening their elbows.

According to Yonhap News Agency (the galactic gossip column of the crypto world), OKX and Korea Investment & Securities are each aiming to grab 20% of Coinone. The exchange is expected to issue new shares for the transaction, ensuring that the current management can keep their jobs and their sanity-for now.

If the regulators give the green light, OKX will become the second overseas exchange to cozy up to a South Korean trading platform. It’s like a crypto version of a high school prom, but with more zeroes in the bank accounts.

Coinone, one of South Korea’s licensed exchanges, is part of the exclusive club allowed to offer fiat-to-crypto trading services. However, most of the action in the domestic market still revolves around Upbit and Bithumb, because why spread the wealth when you can hoard it?

This news comes hot on the heels of another blockbuster announcement: Hana Financial Group is dropping $670 million on a stake in Dunamu, the parent company of Upbit. Earlier this year, Mirae Asset also decided to join the party, snapping up a 92% stake in Korbit. It’s like a game of crypto musical chairs, and everyone’s scrambling for a seat.

Meanwhile, South Korean lawmakers are pondering ownership restrictions under the proposed Digital Asset Basic Act. They’re considering capping corporate ownership in crypto exchanges at 34% and individual shareholders at 20%. Because nothing says “innovation” like a good old-fashioned clampdown.

Yonhap reports that Coinone’s current ownership structure is already flirting with these proposed limits. The One Group holds 34.3%, founder Cha Myung-hoon owns 19.14%, and he’s also the largest shareholder in The One Group. It’s like a crypto version of Inception, but with more paperwork.

Gaming company Com2uS Holdings controls another 21.95% stake, while its investment unit Com2uS Plus owns 16.47%. It’s a regular oligopoly, but with more pixels.

OKX: Not Just a Pretty Blockchain

The Coinone talks are just the latest chapter in OKX’s epic quest for world (or at least crypto) domination. From payments to institutional services and blockchain infrastructure, OKX is spreading its tentacles far and wide.

In Europe, the exchange recently unveiled transaction data from its OKX Card, a stablecoin-linked payment product launched with Mastercard and Circle. Turns out, 26% of transactions in the first month were for groceries, because even crypto whales need to eat. Restaurants and online marketplaces also got a hefty slice of the action.

In April, OKX introduced its Agent Payments Protocol, an open framework designed to let AI agents handle payments, escrow, settlement, and dispute resolution across multiple blockchains. It’s like giving your Roomba a credit card, but with more blockchain buzz.

On the institutional front, OKX partnered with BitGo to offer off-exchange settlement services in the U.S., allowing institutional clients to trade while keeping their assets under third-party custody. Because even the big players need a safety net.

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2026-05-15 12:55