TechFlow News, May 15: According to The Block, OKX is planning to partner with Korea Investment & Securities Co. to each acquire approximately 20% of the shares of South Korean cryptocurrency exchange Coinone. As reported by Yonhap News Agency, the transaction is expected to be completed through the issuance of new shares by Coinone—not via the sale of existing shares—and will not affect the exchange’s current management team.
If approved, OKX will become the second global exchange—after Binance’s investment in Gopax—to hold equity in a major South Korean digital asset platform. Coinone is one of five South Korean exchanges authorized to offer fiat-to-cryptocurrency trading services; however, the domestic market is currently dominated by Upbit and Bithumb.
