SEOUL, South Korea – Major financial firm Korea Investment & Securities (KIS) is reportedly in talks to acquire a stake in cryptocurrency exchange Coinone. This potential move, reported by Korean media in late March 2026, comes as the South Korean government pushes for stricter ownership rules that could force a major restructuring of the country’s digital asset platforms.
Brokerage Giant Reviews Coinone Investment
According to a report from The Korea Herald, KIS has begun preliminary discussions with regulators and politicians regarding a potential investment in Coinone. The brokerage, which recorded a net profit exceeding 2 trillion won (approximately $1.3 billion) in 2025, is reviewing the deal. Both companies have stated that no specific transaction has been finalized. “We are reviewing various measures, but nothing has been decided,” a KIS official told Hankyung. Coinone echoed this, confirming that no concrete plans are in place.
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This suggests KIS is conducting thorough due diligence. The firm’s strong financial position makes it a credible candidate for a major stake purchase. If completed, the deal would follow a pattern of traditional finance entering South Korea’s crypto sector.
The 20% Ownership Cap Looming Over Exchanges
The reported talks are unfolding against a backdrop of significant regulatory change. On March 4, 2026, South Korea’s government and ruling Democratic Party agreed on a plan to cap the ownership stakes of major shareholders in domestic crypto exchanges at 20%. Data from Herald Economy indicates the Financial Services Commission (FSC) and the party’s digital asset task force settled on this limit after discussions.
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This proposed rule presents a direct challenge to Coinone’s current structure. Chairman Cha Myung-hoon controls about 53.44% of the exchange. The new cap, if enacted into law, would require him to significantly reduce his holding. Exchanges would have a three-year grace period to adjust their ownership. A stake sale to a firm like KIS could be one method of compliance. Analysts note that Cha could potentially retain operational control even after selling a portion of his shares.
Why Regulators Are Pushing for Change
Industry watchers see the ownership cap as a move to decentralize control and mitigate systemic risk. Concentrated ownership in a single individual or entity has been a concern for financial watchdogs. The FSC’s push aligns with broader efforts to increase transparency and corporate governance in the crypto industry. This regulatory shift is forcing all major South Korean exchanges to examine their capital tables.
A Crowded Field of Traditional Finance Entrants
KIS is not the first major Korean financial group to target a crypto exchange. In February 2026, Mirae Asset Group filed to acquire a controlling stake in exchange Korbit. This signals a clear trend of consolidation and institutional adoption.
Perhaps the largest proposed deal involves internet giant Naver. Its financial arm, Naver Financial, disclosed plans in late 2025 for an all-stock acquisition of Dunamu, the operator of leading exchange Upbit. The deal was valued at roughly $10.3 billion. However, on March 30, 2026, Naver Financial delayed its planned share swap with Dunamu. The company cited ongoing regulatory reviews and a decline in trading volumes as reasons for the postponement. This shows that even massive deals face hurdles in the current environment.
What This Means for South Korea’s Crypto Market
The potential KIS-Coinone deal has several implications. First, it would bring deeper institutional capital and traditional finance expertise into the crypto sector. Second, it could help Coinone preemptively comply with the proposed ownership cap, giving it a regulatory advantage. Third, it intensifies competition, pitting a KIS-backed Coinone against a Mirae Asset-backed Korbit and the Naver-Dunamu entity.
Market data from CoinGecko shows Coinone holds a significant but not dominant share of South Korean trading volume. An injection of capital and credibility from a major brokerage could help it compete more aggressively. For KIS, the investment represents a strategic entry into the digital asset space, diversifying its business beyond traditional securities.
The Investor Perspective
What this means for investors is a gradual professionalization of the South Korean crypto market. Increased involvement from large, publicly traded financial firms could lead to more stable operations and improved compliance standards. However, it also suggests that the era of founder-dominated exchanges may be ending, replaced by a model more familiar to traditional equity markets.
Conclusion
The reported review of a Coinone stake by Korea Investment & Securities highlights a decisive moment for South Korea’s cryptocurrency industry. Driven by a proposed 20% ownership cap, the market is undergoing a forced evolution. Traditional financial giants are positioning themselves to lead the next phase, bringing capital and corporate structure to a sector once defined by startups. The outcome of these talks, and the final form of the new regulations, will shape the competitive environment for years to come.
FAQs
Q1: What is Korea Investment & Securities reportedly planning?
Korea Investment & Securities (KIS), a major South Korean brokerage, is reviewing a potential investment to acquire a stake in the cryptocurrency exchange Coinone. No deal has been finalized.
Q2: Why is this happening now?
The talks coincide with a South Korean government proposal to cap major shareholders’ stakes in crypto exchanges at 20%. Coinone’s chairman currently controls over 53%, so a stake sale could be a way to comply with the potential new rule.
Q3: Are other financial firms buying crypto exchanges in South Korea?
Yes. Mirae Asset Group has agreed to acquire a controlling stake in exchange Korbit. Naver Financial also plans to acquire Dunamu, the operator of Upbit, though that deal was recently delayed.
Q4: What is the 20% ownership cap?
It’s a proposed regulation agreed upon by South Korea’s government and ruling party in March 2026. It would limit any single major shareholder’s stake in a domestic crypto exchange to 20%, with a three-year adjustment period for existing platforms.
Q5: How would a KIS investment affect Coinone?
It could provide Coinone with significant capital, institutional credibility, and help it meet new regulatory requirements. It would also position the exchange to compete more strongly against rivals backed by other large financial groups.
This article was produced with AI assistance and reviewed by our editorial team for accuracy and quality.
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