OKX is planning to acquire around 20% of the shares of the South Korean cryptocurrency exchange Coinone, further expanding its presence in the Korean cryptocurrency market.

BlockBeats News, May 15th, OKX has revealed that it plans to cooperate with a South Korean investment and securities firm to acquire approximately 20% of the shares of the South Korean exchange platform Coinone.

Reports indicate that the transaction may be completed through Coinone issuing new shares, rather than existing shareholders selling their shares. After the transaction is completed, it will not directly alter its current management structure. If approved, OKX will become the second global exchange to enter the ownership structure of a top South Korean exchange platform, following Binance's investment in Gopax.

Meanwhile, the South Korean market is undergoing a restructuring of cryptocurrency exchange ownership. Local banking giant Hana Financial Group has announced its intention to acquire approximately $670 million worth of shares in Dunamu, the operator of Upbit, triggering further industry consolidation expectations.

Analysts point out that the South Korean regulators are pushing for the legislation of the "Digital Asset Basic Law," which may set a limit on the ownership percentage of a single shareholder in an exchange, further influencing the future capital structure of exchanges and the entry of foreign investment.