South Korean brokerage Korea Investment & Securities (KIS) is reviewing a potential stake acquisition in cryptocurrency exchange Coinone, according to reports. A deal has not been finalized. The potential investment aligns with a government proposal to cap major shareholder stakes in domestic crypto exchanges at 20%. Coinone Chairman Cha Myung-hoon currently controls approximately 53.44% of the exchange.
Korea Investment & Securities has reportedly started engaging with regulators and politicians regarding a potential investment in Coinone. The exchange stated that “no specific transaction had been decided,” according to people familiar with the matter.
The move comes as South Korean authorities consider a plan to cap major shareholders’ stakes in local crypto exchanges at 20%. Under the proposal, exchanges would have three years from the law’s enforcement to adjust their ownership structures.
Coinone Chairman Cha Myung-hoon controls about 53.44% of the exchange. This ownership level means a stake sale could become necessary if the proposed legislative cap advances.
The reported talks would position KIS alongside rival Mirae Asset Group, which agreed to acquire a controlling stake in crypto exchange Korbit in February. KIS recorded a net profit of over $1.3 billion in 2025, making it a strong candidate for a potential stake acquisition.
The development follows other moves by major South Korean firms into the crypto sector. In late 2025, Naver Financial disclosed plans for a roughly $10.3 billion all-stock deal to acquire Dunamu, Upbit’s operator. On March 30, Naver Financial delayed its planned share swap with Dunamu as regulatory reviews continued.
