Korea Investment & Securities pursues investment in Coinone exchange amid ownership reform: Sources
Discussions regarding the potential stake purchase emerge amid ongoing deliberations in South Korea over implementing a 20% ownership ceiling for key shareholders of cryptocurrency exchanges, potentially triggering ownership reorganizations across the industry.
Korea Investment & Securities (KIS), a leading South Korean brokerage firm, is currently evaluating the possibility of acquiring a stake in cryptocurrency exchange Coinone, based on statements from the company and reports from Korean news outlets, although no final agreement has been reached at this time.
According to sources with knowledge of the discussions cited by the Korea Herald, KIS has begun discussions with political figures and regulatory authorities as part of the comprehensive due diligence process related to a possible investment in Coinone. The exchange itself confirmed that no concrete agreement or transaction details have been finalized to date.
These developments emerge during a period when South Korea is actively evaluating a regulatory proposal that would establish a 20% ceiling on major shareholders' ownership stakes in cryptocurrency exchanges operating within the country, a regulatory shift that could necessitate significant ownership restructuring throughout substantial portions of the industry should it be enacted into law. Chairman Cha Myung-hoon of Coinone is reported to hold approximately 53.44% ownership of the exchange, which means that divesting a portion of his stake could represent one avenue for compliance should the proposed ownership cap be codified into legislation.
Such a transaction would place KIS in direct competition with its rival firm, Mirae Asset Group, which entered into an agreement to purchase a majority ownership position in cryptocurrency exchange Korbit, as disclosed in a February regulatory filing. According to reporting by Hankyung, KIS generated a net profit exceeding 2 trillion won (approximately $1.3 billion) during 2025, establishing it as a financially robust contender for a potential stake purchase in Coinone.
South Korea moves to cap crypto exchange ownership at 20%
The ongoing discussions regarding this potential transaction are occurring as South Korea takes steps to fundamentally restructure ownership frameworks within its cryptocurrency exchange marketplace.
On March 4, an agreement was reached between South Korea's ruling party and government officials on a regulatory framework to impose a 20% limit on ownership stakes held by major shareholders in domestic exchanges. Reports from Herald Economy indicate that the Democratic Party of Korea's digital asset task force reached consensus with the Financial Services Commission (FSC) to establish the maximum shareholding threshold at 20% following a series of negotiations.
According to the terms of the proposal, cryptocurrency exchanges would be granted a three-year transition period from the date of the law's implementation to bring their ownership structures into compliance if the legislation is ultimately approved and enacted.
Given that Cha maintains control of more than half of Coinone's shares, the implementation of the proposed ownership cap would ultimately necessitate that he reduce his shareholding position. However, the Herald noted that he could potentially maintain operational control over management even in the event that a partial sale of his stake proceeds.
The ongoing discussions being reported represent the latest in a series of strategic initiatives by prominent South Korean corporations to establish and strengthen their positions within the cryptocurrency industry.
Toward the end of 2025, Naver Financial made public its intentions to pursue an all-stock transaction valued at approximately $10.3 billion to acquire Dunamu, the corporate entity that operates the Upbit cryptocurrency exchange. On March 30, Naver Financial announced a postponement of its anticipated share exchange arrangement with Dunamu, citing ongoing regulatory examination processes and declining trading volumes as contributing factors.