South Korea · OKX · Coinone · CoinDesk
The two companies are discussing plans to buy around 20% of Coinone each, according to the report
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The investment would take the form of new shares being issued rather than buying existing shares, the report said.
Key facts
- OKX, one of the world's largest cryptocurrency exchanges, is teaming up with Seoul-based investment bank Korea Investment and Securities to purchase a stake in Coinone, one of South Korea's largest
- The two companies are discussing plans to buy around 20% of Coinone each, according to the report, which cited industry sources
- Coinone is among the largest crypto exchanges in South Korea, alongside Upbit, Bithumb and CoinW
- Korean Investment and Securities' inclusion in deal echoes that of prominent traditional financial (TradFi) company Mirae Asset eyeing an entry in the crypto trading business through acquiring
Summary
OKX is teaming up with Seoul-based investment bank Korea Investment and Securities to purchase a stake in Coinone, one of the country's largest cryptocurrency exchanges. The two companies are reportedly discussing plans to buy around 20% of Coinone each.