OKX Ventures and KIS to Acquire 19.6% Stake in Coinone for $106 Million
By
@cointelegraph
Crisp on the outside, thoughtful on the inside. A keeper.
Summary
South Korean crypto exchange Coinone announced that Korea Investment & Securities (KIS) and OKX Ventures will invest 160 billion won ($106 million) for a 19.6% stake in the platform. The deal, pending regulatory approval, combines secondary share purchases from existing holders with newly issued shares. KIS and OKX Ventures would become joint third-largest shareholders behind CEO Myung-Hun Cha and Com2uS Holdings. The investment underscores South Korea's growing push into regulated digital assets.
Key quotes
· 3 pulledSouth Korean crypto exchange Coinone said Korea Investment & Securities (KIS) and OKX Ventures agreed to invest a combined 160 billion won ($106 million) for a 19.6% stake in the platform.
The investment, which remains subject to regulatory approval, would make KIS and OKX Ventures joint third-largest shareholders in Coinone behind CEO Myung-Hun Cha and existing backer Com2uS Holdings.
The transaction combines secondary share purchases from existing holders with newly issued shares, while Cha is expected to remain Coinone's largest shareholder.
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