OKX bids $140M for 20% of Coinone, running Binance's Gopax playbook into South Korea's walled exchange market
The Block •
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Promote with Leviathan NewsCoinone’s ~2.3% domestic share makes the headline number look small, but the asset is the KRW banking rail and VASP seat, not spot volume. Pairing OKX with a Korean securities house keeps the cap table closer to the proposed 34% corporate-ownership ceiling while giving OKX a route to local liquidity, listings, and maybe OKB/KRW distribution if regulators let the Gopax scar tissue fade. Upbit/Bithumb still own the orderflow, but Hana buying 6.55% of Dunamu on the same day shows TradFi trying to wrap the Korean CEX stack before stablecoin/remittance rules open up.
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