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South Korean cryptocurrency exchange Coinone has reportedly begun exploring the sale of major shareholder stakes.
Chairman Cha Myung-hoon is said to be selling his 53.4% stake in the company, according to local media reports.
Coinone confirmed it is holding discussions on partnerships and equity investments with overseas exchanges and domestic financial institutions.
“We are discussing partnerships, including equity investments, with overseas exchanges and domestic financial institutions,”
Coinone said.
The potential sale comes amid accelerating consolidation within South Korea’s cryptocurrency exchange sector.
Coinone’s sale process may also include a stake held by gaming firm Com2uS, which owns 38.4% of the exchange.
Com2uS’s book value in Coinone had fallen to 75.2 billion won by the third quarter of 2025, below its original purchase cost.
South Korea remains one of the world’s largest digital asset markets, with more than 16 million crypto investors as of March 2025.
Speculation has intensified that Coinbase is considering a strategic investment to gain exposure to the South Korean market.
Local reports said Coinbase plans to visit South Korea to discuss potential cooperation and equity investment opportunities.
Coinbase declined to comment on the reports, saying it does not respond to market speculation.
Recent deals involving Binance, Naver and Mirae Asset underscore growing merger and acquisition activity in the sector.