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

Odaily Planet Daily News: Korean Investment & Securities will sign an agreement with OKX on May 29, with each party acquiring a 20% stake in the Korean crypto exchange Coinone, for a total acquisition of 40%.

Reports indicate that the total value of this transaction is expected to be between 500 billion and 600 billion Korean Won (approximately $332 million to $398 million). The deal will primarily be executed through the issuance of new shares, while the management rights of existing major shareholders will remain unchanged.

Korean Investment & Securities stated that, based on this acquisition, it will promote digital asset businesses such as token securities issuance and circulation, corporate client expansion, and prime brokerage services. (Edaily)