Korea Investment & Securities (KIS), a major South Korean brokerage, is reviewing a potential investment in crypto exchange Coinone, according to Korean media reports and statements from the companies involved. No transaction has been finalized, and Coinone confirmed that no specific deal has been decided. The review was first reported by the Korea Herald, which cited people familiar with the matter, noting that KIS had begun engaging with regulators and politicians as part of the broader process.
The discussions come against the backdrop of a proposed regulatory change in South Korea that would cap major shareholders’ stakes in domestic crypto exchanges at 20%. If enacted, the rule could compel significant ownership restructuring across the sector. Coinone Chairman Cha Myung-hoon reportedly holds approximately 53.44% of the exchange, meaning a stake sale could serve as one avenue for compliance should the proposed cap become law.
On March 4, the South Korean government and its ruling party agreed on the plan to limit major shareholders in local exchanges to a 20% ownership ceiling. According to Herald Economy, the Democratic Party of Korea‘s digital asset task force and the Financial Services Commission (FSC) reached an agreement on the 20% maximum shareholding limit following discussions. Under the proposal, exchanges would have three years from the law’s enforcement date to bring their ownership structures into compliance.
Despite the potential requirement for Cha to reduce his stake, the Korea Herald noted that he could retain management control of Coinone even if a sale proceeds. The proposed cap has introduced urgency for exchanges with concentrated ownership to explore strategic partnerships or partial divestments. KIS recorded a net profit of over 2 trillion won, equivalent to approximately $1.3 billion, in 2025, positioning it as a financially capable candidate for such an acquisition, according to Hankyung.
A deal involving KIS and Coinone would place the brokerage alongside its rival Mirae Asset Group, which agreed in a February filing to acquire a controlling stake in crypto exchange Korbit. The moves by major South Korean financial institutions reflect a broader push to secure positions within the country’s growing digital asset market. The competitive dynamic between KIS and Mirae Asset underscores how traditional finance players are increasingly viewing crypto exchanges as strategic assets.
Other large South Korean companies have also been active in the sector. In late 2025, Naver Financial disclosed plans for an approximately $10.3 billion all-stock deal to acquire Dunamu, the operator of crypto exchange Upbit. However, on March 30, Naver Financial delayed its planned share swap with Dunamu as regulatory reviews continued and trading volumes declined. These developments collectively illustrate the evolving and closely watched relationship between South Korea’s established financial sector and its crypto industry.
Originally reported by CoinTelegraph.
