OKX said to pursue 20% stake in South Korean crypto exchange Coinone

Crypto exchange OKX, backed by Intercontinental Exchange, and Korea Investment & Securities (KIS) are reportedly in discussions to acquire approximately 20% stakes each in the South Korean cryptocurrency exchange Coinone. The deal is expected to involve newly issued shares to bolster Coinone's capital, rather than a transfer of existing holdings. While KIS's involvement is anticipated to be primarily financial, Coinone, founded in 2014 and based in Seoul, offers trading for various digital assets and related services. KIS has denied any definitive agreement has been reached. If successful, this would mark OKX as the second global exchange, after Binance's acquisition of Gopax, to hold a substantial stake in a South Korean crypto platform.

(Source：Crypto Briefing)