OKX, KIS Invest $106M in Coinone Stake
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OKX Ventures and Korea Investment & Securities (KIS) are jointly acquiring a 19.6% stake in South Korean exchange Coinone for $106 million, with each investing $53 million. This move signals growing convergence between traditional finance and the crypto sector in South Korea's strictly regulated market. The investment from a major securities firm like KIS underscores increasing institutional confidence in digital assets, potentially paving the way for further mainstream adoption. For Coinone, the capital injection and partnership could enhance its competitive position against larger rivals Upbit and Bithumb, while also navigating regulatory challenges. The deal reflects a bullish outlook for crypto in Asia, as traditional financial players seek exposure to the digital asset ecosystem.
Read full article on CoinTelegraph
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