OKX Ventures and Korea Investment & Securities plan to each invest 80 billion won for 19.6 percent stakes in South Korean crypto exchange Coinone. The combined 160 billion won deal requires regulatory approval.
The companies announced the transaction on Friday. It involves a mix of secondary share purchases and subscriptions for newly issued shares. Coinone will use the funds to expand into stablecoins and tokenized securities.
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Japan's SBI Group has acquired a majority stake in Singapore-based crypto exchange Coinhako. The deal, announced on Friday after regulatory approval, forms part of a broader strategy to build a cross-border digital asset network across Asia.
Coinbase and OKX are offering deposit and transfer bonuses to European users as Binance prepares to restrict services due to lacking a MiCA license. The moves come days before the July 1 deadline for the new EU crypto rules.
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Citadel Securities has committed $400 million to Crypto.com in a deal that values the exchange at $20 billion. The investment marks Crypto.com's first institutional funding round in a decade and follows a similar $200 million stake in rival Kraken last year.
Sony Bank has received preliminary conditional approval from the Office of the Comptroller of the Currency to establish a national trust bank subsidiary for dollar-denominated stablecoins. The New York-based unit, named Connectia Trust, will be fully owned by Sony Bank and capitalized with $40 million.
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A wave of cryptocurrency exchange initial public offerings in 2025 highlighted the sector's maturation, but recent setbacks reveal heavy dependence on Bitcoin's price movements. Gemini's post-IPO struggles and Kraken's frozen listing underscore vulnerabilities to market cycles. Exchanges must prove revenue stability beyond Bitcoin rallies to sustain investor interest.
United Capital Group has acquired a 5 percent equity stake in the Nigerian Exchange Group. The move is presented as a milestone in the company's continental growth strategy.