🚀 Crypto Chaos: OKX Ventures Grabs a Slice of Coinone Pie in South Korea!

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In a move that would make even the most jaded space traveler raise an eyebrow, OKX Ventures has boldly gone where no venture capitalist has gone before-well, not exactly, but close enough. They’ve decided to plop down a cool $53 million (or 80 billion won, if you’re feeling fancy) to snag a 19.6% stake in South Korea’s very own Coinone. Because, you know, why not expand your galactic empire into one of Asia’s largest digital asset markets? It’s not like they have anything better to do with their intergalactic credits.

  • OKX Ventures is throwing $53 million at Coinone, which is basically the price of a slightly used spaceship, to secure a 19.6% stake-pending regulatory approval, of course. Because even in the crypto universe, the bureaucracy never sleeps.
  • Korea Investment & Securities is matching this investment, because why let OKX have all the fun? Together, they’ll be Coinone’s joint third-largest shareholders, which is like being the third most popular kid in a very niche club.
  • This deal comes as South Korea’s financial institutions are suddenly acting like they’ve discovered a new planet, pouring money into crypto, stablecoins, and tokenized assets. It’s like they’ve all read The Hitchhiker’s Guide to the Galaxy and decided “Don’t Panic” means “Invest Heavily.”

According to a statement from Coinone (which, let’s be honest, probably took longer to draft than it did to negotiate the deal), they’ve signed strategic equity investment agreements with OKX Ventures, Korea Investment & Securities (KIS), and South Korean gaming firm Com2uS and its affiliate. Because nothing says “future of finance” like a gaming company getting involved.

Once the regulators give their nod (and we all know how quickly that happens), OKX Ventures and KIS will each own 19.6% of Coinone. That puts them right behind CEO Cha Myung-hun, who’s sitting pretty with 27.8%, and Com2uS Holdings, which has 25%. It’s like a game of financial musical chairs, but with more spreadsheets.

The transaction will involve buying some shares from Cha and Com2uS, while also subscribing to newly issued shares. It’s like a garage sale, but with billions of won on the line.

This all comes hot on the heels of Binance’s acquisition of Gopax, proving that South Korea is the new hot spot for crypto firms looking to dip their toes into regulated waters. It’s the crypto equivalent of everyone suddenly deciding they want to be astronauts.

Netero Dai, vice president of OKX Global Markets, had this to say: “South Korea is one of the world’s most advanced digital asset markets, and their regulatory framework is respected internationally. We believe the future of finance will be built on compliant, well-regulated infrastructure, and our investment in Coinone reflects that conviction.” Translation: “We’re here for the long haul, and we’ve got the paperwork to prove it.”

“We believe that the future of finance will be built on compliant, well-regulated infrastructure, and our investment in Coinone with Korea Investment & Securities reflects that conviction.”

Beyond just throwing money around, Coinone and OKX Ventures plan to swap notes on user protection, security systems, and risk management. Because what’s the point of being in the crypto business if you’re not constantly worried about getting hacked?

Meanwhile, KIS is eyeing opportunities in security tokens and stablecoins, as South Korea continues to debate its Digital Asset Basic Act. It’s like they’re building a spaceship while still arguing over the design of the seats.

South Korean Financial Institutions Jump on the Crypto Bandwagon

This Coinone deal is just the latest in a string of crypto-related investments by South Korean financial bigwigs. Earlier this week, three Samsung subsidiaries announced they’re dumping $408 million into Dunamu, the parent company of Upbit, for a combined 4% stake. Because if you can’t beat ‘em, join ‘em.

Mirae Asset, which manages a staggering 1,000 trillion won ($665 billion), decided in February to acquire a 92% stake in cryptocurrency exchange Korbit. That’s like buying a whole planet just to set up a lemonade stand.

And let’s not forget KB Kookmin, Shinhan, and NHN KCP, who are teaming up with blockchain networks like Solana and Avalanche to test payment systems involving tokenized deposits and stablecoins. It’s like they’re all suddenly speaking fluent blockchain.

Meanwhile, South Korean policymakers are still tinkering with the Digital Asset Basic Act, a comprehensive crypto framework that’s taking longer to finalize than a Douglas Adams trilogy. The implementation schedule? Still up in the air, much like the probability of finding a decent cup of tea in space.

International financial firms aren’t sitting this one out either. In May, Intercontinental Exchange (ICE), the folks behind the New York Stock Exchange, decided to buddy up with OKX to support perpetual oil futures linked to ICE Brent and WTI benchmarks. Because nothing says “future of finance” like oil futures and blockchain.

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2026-05-29 10:48