OKX Eyes 20% Stake in South Korean Exchange Coinone as Foreign Capital Floods Korean Crypto!

OKX is reportedly in talks to acquire a 20% stake in Coinone, one of South Korea's licensed crypto exchanges, in a move that would mark a significant push by the global exchange giant into one of the world's most active retail crypto markets.

The reported deal lands on the same day that Hana Bank, one of South Korea's largest banking institutions, announced it is acquiring a $670 million stake in Dunamu, the operator behind Upbit — the country's dominant exchange by volume. Two major foreign and institutional capital moves in a single day signals that the Korean crypto market is entering a new phase of consolidation and legitimization.

For OKX, a 20% stake in Coinone would provide a compliant local foothold in a jurisdiction known for strict regulatory requirements under the Virtual Asset User Protection Act, without the full burden of building a domestic operation from scratch.