Coinbase rumored as Coinone explores stake sale, Com2uS may join

Coinbase rumored as Coinone explores stake sale, Com2uS may join

South Korea’s regulated cryptocurrency exchange Coinone is reviewing strategic alternatives as its chairman explores selling part of his majority stake. Market chatter has linked the situation to possible interest from Coinbase, although no formal deal has been confirmed. The move reflects growing attention on Korea’s digital asset sector, where strong retail participation and clear regulation make established platforms attractive acquisition targets for global players seeking regional expansion and long term growth.

At the same time, both domestic and international bidders are closely watching consolidation trends across the crypto industry, as weaker firms seek partners and stronger exchanges look to scale efficiently. Any transaction involving Coinone could reshape competitive dynamics, influence pricing power, and signal renewed confidence in Asia’s regulated trading environment during a period of market recovery and investor sentiment.

Market move: Coinone’s ownership under review

Seoul Economic Daily reports Coinone is “in the process of selling part of Chairman Cha’s stake.” Cha controls a combined 53.44% via The One Group (34.30%) and direct holdings (19.14%). Coinone told the outlet it is discussing partnerships, including equity investments, with overseas exchanges and domestic financial institutions, but no structure is decided.

Com2uS’s position and valuation pressure

Industry sources say shares held by Com2uS Coinone’s second-largest shareholder at 38.42% may also be on the market. As Coinone posted losses, Com2uS’s book value fell to ₩75.2bn (~$52m) by end-Q3 2025, below its initial acquisition cost. These dynamics could influence price expectations and deal structure.

Latest on Coinone stake sale amid Coinbase speculation

The SED report raises the possibility of equity investment from Coinbase, noting the U.S. exchange is scheduled to visit South Korea this week to meet major players, including Coinone. While Coinbase has a global footprint, it has not launched a locally regulated Korean exchange. Both sides have declined to comment beyond not addressing rumors or speculation.

Why Korea matters for Coinbase and rivals

Chainalysis ranks South Korea as APAC’s #2 market by value received, underscoring its strategic weight. Separately, government data cited by Korean media showed ~16.29 million crypto investors (~32% of the population) as of late February/March 2025, exceeding stock investors at the time highlighting deep retail participation.

Consolidation watch: the competitive backdrop

Naver–Dunamu (Upbit)
Naver Financial announced an all-stock deal to acquire Dunamu, operator of Upbit, in November 2025.

Mirae Asset–Korbit
Mirae Asset is in talks to acquire Korbit for ₩100–140bn ($70–100m); MOU signed with major shareholders, per late-Dec 2025 reports.

Binance–Gopax
Regulators approved Binance’s majority acquisition of Gopax in Oct 2025, enabling a formal return to Korea.

These moves set a precedent for strategic partnerships and license-driven M&A that could shape any Coinone outcome.

Context & Analysis

Korea’s exchange landscape is consolidating around licensed platforms and larger financial/tech groups. For Coinone, a minority investment (strategic partnership) could preserve brand and license while adding product depth and compliance resources. A control transaction would depend on regulatory comfort with ownership changes and fit alongside recent approvals (e.g., Gopax/Binance) and large platform deals (Naver–Dunamu). Given Com2uS’s mark-to-book pressure and Cha’s majority block, a staged or syndicated structure is plausible.

Bottom Lines

Coinone’s consideration of a possible stake sale, alongside reports of a Coinbase visit, highlights a fresh turning point for South Korea’s cryptocurrency market. Interest from multiple strategic bidders shows rising confidence in the region’s regulated digital asset ecosystem. At the same time, active regulatory involvement means any potential deal will need to align with compliance standards, market stability goals, and long-term industry development plans.

Future updates from Coinone and potential partners will clarify key details such as valuation, deal structure, and transaction timing. For now, discussions are still in progress, and no binding agreement has been finalized, keeping outcomes open as the process continues to unfold.

FAQs

Q : Is a deal final between Coinone and Coinbase?

A : No. Coinone says it is discussing partnerships, including possible equity investments, but no final decision has been made yet.

Q : What stake is potentially on the block?

A: Chairman Cha’s combined 53.44% stake is under review for a partial sale. Com2uS’s 38.42% holding may also be considered.

Q : Why is Korea attractive to global exchanges?

A : Korea is one of APAC’s largest crypto markets by value received, with around 16.29 million investors, representing roughly 32% of the population.

Q : How would a new investor affect Coinone users?

A : The impact could vary. Users should watch for updates on product offerings, liquidity, custody policies, and compliance changes.

Q : Did Binance re-enter Korea via Gopax?

A : Yes. Authorities approved Binance’s acquisition of Gopax in October 2025.

Q : What about the Naver–Upbit tie-up?

A : Naver Financial announced an all-stock acquisition of Dunamu (Upbit) in November 2025.

Q : Does this article’s primary keyword appear in the FAQs?

A : Yes. The FAQ references “Coinone stake sale amid Coinbase speculation” to improve discoverability.

Facts

• Event
  Coinone explores partial sale of chairman’s stake; Coinbase visit reported

• Date/Time
  2026-01-26T14:00:00+05:00

• Entities
  Coinone; Cha Myung-hoon; The One Group; Com2uS; Coinbase; Naver Financial; Dunamu (Upbit); Mirae Asset; Korbit; Binance; Gopax

• Figures
   Cha stake 53.44% (The One Group 34.30% + direct 19.14%); Com2uS stake 38.42%; Com2uS book value ₩75.2bn (Q3 2025); Korea investors ~16.29m (~32%)

• Quotes
  “We are discussing cooperation measures including equity investment with overseas exchanges and domestic financial companies … but the specific method has not been decided.” Coinone official (via SED)

• Sources
  Seoul Economic Daily (en.sedaily.com), Reuters (naver–Dunamu), The Korea Times (investor count), Korea JoongAng Daily (Binance–Gopax)