South Korea's crypto sector has been undergoing significant changes, with regulators introducing stricter oversight and requirements for exchanges. In response to these regulations, several major players are making moves to expand their presence in the market.
OKX Ventures and Korea Investment & Securities (KIS) have announced a joint investment of $106 million in Coinone, South Korea's third-largest cryptocurrency exchange by trading volume. The deal will see KIS and OKX Ventures acquire a 19.6% stake in the platform, subject to regulatory approval.
This investment is significant as it marks a major entry point for OKX into Asia's tightly regulated crypto markets. Coinone has been one of the leading exchanges in South Korea, with a strong focus on compliance and regulation.