Coinone Sale: Key Insights on Coinbase’s Strategic Interest in South Korea
South Korea’s regulated cryptocurrency exchange, Coinone, is reportedly up for sale amidst growing interest from major players, including Coinbase. As the second-largest crypto market in the Asia-Pacific, South Korea presents significant opportunities for expansion.
Coinone’s Strategic Sale
The sale process initiated by Coinone involves the stake held by Chairman Cha Myung-hoon, who possesses a commanding 53.4% of the company. In addition, Com2uS, a local game development company, is also contemplating selling its 38.4% stake, acquired between 2021 and 2022. The value of Com2uS’s investment has decreased significantly, highlighting potential financial motivations behind the sale.
Coinone has confirmed ongoing discussions with both foreign exchanges and local financial institutions, though no final agreements have been reached. The move aligns with a broader trend of consolidation in South Korea’s cryptocurrency industry, marked by high-profile mergers and acquisitions.
Coinbase’s Strategic Interest
Coinbase, the largest US-based crypto exchange by trading volume, is reportedly interested in entering the South Korean market by investing in Coinone. This speculation is driven by the strategic importance of South Korea as a global digital asset hub, hosting 16.29 million crypto investors as of March 2025.
According to local reports, Coinbase plans to visit South Korea to explore potential partnerships and equity investments. Despite its global reach, Coinbase has not yet launched an exchange specifically regulated under South Korean law, making this potential move a significant step.
Market Implications
The potential sale of Coinone and the rumored involvement of Coinbase could reshape South Korea’s crypto landscape. The country has witnessed a series of notable transactions, including Binance’s acquisition of a majority stake in Gopax in October 2025 and Naver’s plans to acquire Upbit.
Such developments underscore the dynamic nature of the cryptocurrency market in South Korea, with both domestic and international players vying for influence. Investors and stakeholders should closely monitor these changes as they could signal shifts in market dynamics and regulatory landscapes.
