South Korean crypto exchange Coinone is reportedly considering a major shareholder stake sale, fueling speculation about potential interest from both domestic financial groups and global crypto firms. The move comes as consolidation accelerates across South Korea’s tightly regulated digital asset market.
Coinone Confirms Talks With Local and Overseas Partners
Coinone has begun exploring the sale of the 53.4% controlling stake held by Chairman Cha Myung-hoon, according to local reporting. The exchange confirmed it is in discussions around equity investments and strategic partnerships, involving overseas crypto exchanges and domestic financial institutions, while emphasizing that no final agreement has been reached.
The potential transaction aligns with broader merger and acquisition activity in South Korea’s crypto sector, where competition and regulatory costs are pushing firms toward consolidation.
The reported process may also include a sale by Com2uS, a local game developer that owns 38.4% of Coinone. Com2uS acquired its stake between 2021 and 2022, but its book value declined to 75.2 billion won ($52 million) by the third quarter of 2025, below the original purchase price.
Coinone currently ranks third in South Korea by trading volume, behind Upbit and Bithumb, processing roughly $168.7 million in daily volume.
Speculation has intensified around a possible Coinbase investment, as South Korea remains one of the world’s most active crypto markets, with over 16 million crypto investors. While Coinbase has not confirmed any plans, the discussions underscore the strategic value of South Korea in global crypto expansion.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.