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

News from Odaily: Korean Investment & Securities will sign an agreement with OKX on May 29 to jointly acquire a 40% stake in the South Korean crypto exchange Coinone. Each party will purchase a 20% stake.

Reports indicate that the total transaction amount is expected to be between 500 billion and 600 billion Korean Won (approximately $332 million to $398 million). The deal will primarily be completed through the issuance of new shares, while the management rights of the 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 acquisition, and prime brokerage. (Edaily)