OKX and Korea Investment and Securities in talks to jointly acquire 40% of Coinone!

OKX, one of the world's largest crypto exchanges, is reportedly teaming up with Seoul-based investment bank Korea Investment and Securities to each acquire a 20% stake in Coinone, one of South Korea's top crypto trading venues. Yonhap News reported Friday that the investment would take the form of newly issued shares rather than a purchase of existing stock.

The move mirrors Binance's playbook in the region — the world's largest exchange completed its acquisition of Seoul-based Gopax last year after first taking a majority stake two years prior. Korea Investment and Securities' involvement also echoes Mirae Asset's reported interest in acquiring exchange Korbit, signalling that traditional Korean financial institutions are increasingly seeking direct crypto market exposure.

South Korea is one of the most active retail crypto markets globally, with Upbit, Bithumb, and Coinone…