PiCK
FIU Clears Coinone Shareholder Change Filing, Completing Strategic Investment
Summary
- The FIU said it had accepted Coinone’s shareholder change filing, completing the strategic equity investment process.
- Korea Investment & Securities and OKX Ventures each invested 80 billion won ($57.8 million) to acquire about 20% of Coinone.
- Coinone said the participation of new shareholders will strengthen accountable management, provide a stable business foundation, and help it become an innovative digital-asset exchange.
Forecast Trend Report by Period
South Korea’s Financial Intelligence Unit, which operates under the Financial Services Commission, has accepted domestic cryptocurrency exchange Coinone’s filing to change its major shareholders.
Coinone said on July 23 that the FIU completed the process on July 22. The company said the approval concludes the entry of new shareholders, including Korea Investment & Securities and OKX Ventures, and strengthens accountable management and a stable business base alongside existing shareholder Com2uS Holdings.
Korea Investment & Securities and OKX Ventures, the investment arm of OKX, signed strategic equity investment agreements with Coinone in May. Under the deals, each invested 80 billion won ($57.8 million) to secure about a 20% stake in the exchange.
With the FIU’s acceptance of the filing, Korea Investment & Securities and OKX Ventures have become Coinone’s joint third-largest shareholders. Coinone said it aims to develop into an innovative digital-asset exchange by combining the compliance expertise and credibility of Korea Investment & Securities with OKX’s blockchain infrastructure technology, which the company said has been validated by 120 million users worldwide.
