Korea Investment & Securities and OKX Ventures, jointly 3shareholders
Korea Investment & Securities and OKX Ventures have jointly become 3shareholders of Coinone. As discussions on institutionalizing won-denominated stablecoins gain momentum, competition to secure stakes in exchanges, led by banks and securities firms, is intensifying.
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Through a strategic investment, Korea Investment & Securities and OKX Ventures have jointly become 3shareholders of Coinone, a won-denominated crypto exchange. 29The two investors reportedly participated through a joint investment. The investment is said to be aimed at expanding the exchange’s business.
Competition for stakes in crypto-asset businesses is intensifying ahead of the introduction of won-denominated stablecoins. Banks and securities firms are actively seeking stakes in exchanges. The competition involves not only exchange stakes but also stablecoin issuance and custody businesses.
Industry participants view STOs, stablecoins and custody as 3key investment areas. Cases of actual equity participation are increasing, going beyond MOUs between institutions. Overseas crypto-asset companies are also stepping up their entry into the domestic market.
This investment in Coinone has changed the exchange’s shareholder composition. Other exchanges are also seeking to attract institutional investors. Strategic investment agreements are being pursued across exchanges.
Discussions on institutionalizing won-denominated stablecoins are cited as the backdrop to expanded investment. Talks on institutionalization and purchases of stakes in exchanges are taking place at the same time. The process of refining related laws and systems is drawing attention.
Exchanges and financial institutions are pursuing investment agreements alongside stake purchases. Examples of domestic and international companies investing in exchanges continue to emerge. The industry is seeing investment accompanied by regulatory reviews.