Korea Investment & Securities is set to become a major shareholder of cryptocurrency exchange Coinone after agreeing to acquire a 20 percent stake, underscoring

This marks the latest move by a global crypto giant to secure a foothold in South Korea, following Binance's acquisition of Gopax.

The crypto exchange's investment arm and Korea Investment & Securities will each invest KRW 80 billion ($53 million) as Coinone pushes into stablecoins and tokenized securities.