OKX's planned move into the South Korean market would echo that of Binance, which completed its acquisition of Seoul-based Gopax last year. May 15, 2026, 11:52 a.m. 1 min readMake preferred on OKX, one of the world's largest cryptocurrency exchanges, is teaming up with Seoul-based investment bank Korea Investment and Securities to purchase a stake in Coinone, one of South Korea's largest crypto trading venues, Yonhap News reported on Friday.The two companies are discussing plans to buy around 20% of Coinone each, according to the report, which cited industry sources.The investment would take the form of new shares being issued rather than buying existing shares, the report said. Coinone is among the largest crypto exchanges in South Korea, alongside Upbit, Bithumb and CoinW. OKX was formed in China in 2013 and is now headquartered in San Jose, California.OKX's planned move into the South Korean market would follow that of Binance, the world's largest crypto exchange, which completed its acquisition of Seoul-based Gopax last year, having first acquired a majority stake over two years previously.Korean Investment and Securities' inclusion in deal echoes that of prominent traditional financial (TradFi) company Mirae Asset eyeing an entry in the crypto trading business through acquiring exchange Korbit.None of the firms involved immediately responded to CoinDesk's requests for comment.More For YouDeFi insurance protocols debuted with huge ambitions during the 2020 crypto boom. But as hacks evolved and users chased yields over protection, most of the sector collapsed under the same risks it was built to cover.What to know: Despite billions of dollars flowing through DeFi, less than 2% of total value locked is insured, leaving most users exposed to mounting hacks and exploits.Early DeFi insurance efforts faltered as attackers shifted from smart contract bugs to harder-to-price offchain risks like private key compromises and phishing, which now account...Read full story