OKX is reported to be in discussions to take a stake in South Korean crypto exchange Coinone as foreign and domestic firms compete for market access. The Block reports that OKX is set to acquire a 20% stake in Coinone, subject to approval. CoinDesk says OKX is also in talks alongside Korea Investment and Securities for a larger 40% stake in Coinone, based on reporting about deal discussions. CoinTelegraph similarly reports that OKX is seeking a 20% position in Coinone as part of its push into the South Korean market.
The reported plans are framed as similar to prior cross-border consolidation in South Korea. Binance, for example, completed the acquisition of Seoul-based Gopax last year, becoming a major exchange player with local ownership. Across the reports, OKX’s stake would position it among the larger global exchanges with an ownership interest in a South Korean platform, potentially following Binance’s model if the deal is approved. Details on timing and final deal terms are not provided in the accounts.
