Coinbase Eyes Strategic Investment In South Korea’s Coinone Exchange - Report

Coinbase is reportedly considering a major strategic move into the Asian market—a potential investment in South Korea's Coinone exchange. The talks signal a deeper push into one of crypto's most retail-frenzied regions.

Why South Korea Matters

South Korea's crypto scene is notoriously hot—and tightly regulated. Gaining a foothold through a local, established player like Coinone bypasses years of regulatory headaches. It's a classic case of buying the map instead of hacking through the jungle yourself.

The Regulatory Tightrope

Any deal would need to navigate the Financial Services Commission's strict rules. Local exchanges face real banking partnership pressures and intense scrutiny. For Coinbase, it's a calculated bet that the market's volatility—and potential—outweighs the compliance burden.

A Foot in the Door

This isn't just about trading fees. It's about infrastructure, local trust, and a pipeline to a market that treats altcoin launches like national sporting events. Acquiring a stake means acquiring influence in a ecosystem that often moves independently of Wall Street's whims.

If the rumors hold, Coinbase isn't just expanding—it's playing geopolitical chess in a market where sentiment can shift faster than a memecoin pump. Sometimes, the smartest investment isn't in a token, but in the gatekeepers who hold the keys to the kingdom. After all, in finance, the real money is often in selling the picks and shovels—or in this case, owning the exchange.

Tech Upgrades Accelerate Even As Losses Weigh On Valuation

Coinone, meanwhile, said Cha stepped back in to sharpen its technological edge as it nears a double-digit market share, building out areas such as artificial intelligence.

Attention has also turned to Com2uS, the gaming group that accumulated a 38.42% stake in Coinone between 2021 and 2022.

Seoul Economic Daily reports that South Korea's third-largest crypto exchange Coinone is up for sale. Major shareholder and chairman Cha Myung-hoon is considering selling part of his stake and exploring other options. Coinbase will visit Korea this week to discuss equity…

Coinone’s continued losses have weighed on its book value, which Seoul Economic Daily put at 75.2B won, or about $52M, at the end of the third quarter, below Com2uS’s reported acquisition cost.

Against that backdrop, industry sources say Coinbase plans to visit South Korea this week and meet major local players, including Coinone, as it looks for partners to build products that fit Korean rules.

Korea’s Crypto Exchange Sector Sees Surge In Deal Activity

The talks come as dealmaking accelerates across South Korea’s crypto exchange sector, with traditional finance and big tech circling licensed platforms and won trading rails.

Regulators recently cleared Binance’s long-running effort to take over GOPAX, and the market has since seen a rush of takeover interest.

Naver Financial agreed to acquire Dunamu, the operator of market leader Upbit, in an all-stock deal, while local media have also reported Mirae Asset Securities is pursuing Korbit.

Coinone has tried to differentiate on product as well as ownership, launching what it called the country’s first flexible bitcoin staking service in Aug. 2025, letting users earn rewards without locking up their holdings.

Coinone says discussions remain open-ended, and it has not settled on a structure, a timeline or a buyer. Still, the prospect of a Coinbase tie-up lands at a moment when Korea’s exchange map is already shifting, and when global players are watching for a way in.