Korean Investment & Securities and OKX Plan to Jointly Acquire 40% Stake in Coinone, Total Amount Expected to Exceed $300 Million

Odaily reports that Korean Investment & Securities will sign an agreement with OKX on May 29. The two parties will each acquire a 20% stake in Korean crypto exchange Coinone, for a combined total of 40%.

According to reports, the total transaction amount is estimated to be between 500 billion and 600 billion Korean won (approximately $332 million to $398 million). The acquisition will primarily be completed through the issuance of new shares, and the existing major shareholders' management rights will remain unchanged.

Korean Investment & Securities stated that, based on this acquisition, it plans to advance digital asset businesses such as token securities issuance and circulation, expansion of corporate clients, and prime brokerage services. (Edaily)