OKX Ventures, the investment arm of global crypto exchange OKX, will acquire a 19.6% stake in South Korean crypto exchange Coinone for 80 billion won, or about $53 million. Korea Investment & Securities will make an identical investment and also receive a 19.6% stake. Once the transaction closes and receives regulatory approval, OKX Ventures and KIS will become Coinone’s joint third-largest shareholders.

The deal will be structured through a combination of secondary share purchases and subscriptions for newly issued shares. Coinone CEO Cha Myunghun is expected to remain the largest shareholder with 27.8%, while Com2uS Holdings and its affiliates will hold 25%.

For OKX, the investment creates a regulated foothold in one of Asia’s most advanced digital-asset markets. South Korea is tightening crypto oversight, but major financial institutions are also moving deeper into the sector, with interest in security tokens, stablecoins, tokenized deposits and new payment infrastructure. The key caveat is regulatory approval: the transaction has not fully closed, and South Korea’s broader Digital Asset Basic Act is still delayed. Still, the signal is clear — Korea’s crypto market is becoming a battleground for partnerships between global exchanges and traditional financial firms.