Kim Sung-hwan, left, CEO of Korea Investment & Securities, poses with Coinone CEO Cha Myung-hoon, third from left, and other officials during a strategic investment agreement signing ceremony at Coinone's headquarters in Yeouido, Seoul, Friday.
Courtesy of Korea Investment & Securities Local securities firms are ramping up investments in cryptocurrency exchanges as they seek to secure a foothold in the country's emerging digital asset market ahead of the planned introduction of a tokenized securities framework, industry officials said Friday.
Korea Investment & Securities announced that it has signed a strategic investment agreement with cryptocurrency exchange Coinone, acquring a roughly 20 percent stake in the platform.
The deal will make the brokerage Coinone's third-largest shareholder, following CEO Cha Myung-hoon, who holds a 30.36 percent stake, and Com2uS Holdings with 24.54 percent.
The securities firm said its investment in Coinone is intended not merely as an equity acquisition but as a foundation for expanding into new digital finance businesses.
