Korea’s Top Brokerage Wants Into Crypto — Starting With Coinone
Korea Investment Securities, one in all South Korea’s largest brokerages, is exploring a stake in Coinone. The agency is in early talks to amass shares within the nation’s third-ranked crypto alternate, the Herald Economy reported.
The deal would add one other chapter to an unprecedented wave of consolidation reshaping Korea’s crypto sector.
A Crowded Field of Suitors
Coinone has drawn no scarcity of curiosity this yr. In January, speculation swirled that Coinbase was eyeing a stake buy. Coinone dismissed these studies as “utterly groundless” on the time.
Now, a home heavyweight has entered the image. Sources informed the Herald Economy that Korea Investment is lobbying monetary regulators and lawmakers to clear the trail. This mirrors the strategy Mirae Asset Group used earlier than buying 92% of Korbit for roughly 133 billion received in February.
Coinone CEO Cha Myung-hoon at the moment holds a 53.44% stake within the alternate. Upcoming rules might cap major shareholder ownership at 15-20%, probably forcing a discount. One supply steered Korea Investment may goal round 20% with out threatening its management.
No value has been set but. Industry watchers anticipate the Korbit deal to function a benchmark.
Coinone’s Mixed Financial Picture
Coinone’s 2025 financials paint a nuanced image. Revenue rose 3% year-on-year to $31.4 million, pushed totally by buying and selling charges. However, the alternate posted a $4.3 million working loss, roughly consistent with the prior yr.
Net revenue informed a unique story. Coinone stayed within the black at $1.9 million, however that was a pointy drop from $10.8 million in 2024. The decline got here from crypto valuation losses of $5.9 million, up from simply $138,000 a yr earlier. Total belongings additionally shrank 18.7% to $186.1 million as money reserves fell considerably.
Part of a Bigger Shakeup
The Korea Investment transfer matches a broader sample of speedy restructuring. Naver Financial and Upbit operator Dunamu have accepted a merger. Binance acquired last approval to amass Gopax. Mirae Asset locked down Korbit.
Korean brokerages now view crypto exchanges as strategic infrastructure quite than simply inventory buying and selling apps. Exchanges supply wallet-based companies, round the clock buying and selling, and a future on-ramp to tokenized securities.
Both Coinone and Korea Investment confirmed discussions however mentioned nothing is finalized but.
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