South Korea’s Coinone up for sale as Coinbase interest circulates

South Korean crypto exchange Coinone has reportedly begun selling major shareholder stakes, with Coinbase rumored to be eyeing a strategic entry.

Coinone, one of a handful of regulated South Korean cryptocurrency exchanges, is reportedly up for sale, with both local financial institutions and foreign exchanges among the rumored bidders.

The company has begun a process to sell the stake held by Chairman Cha Myung-hoon, who controls 53.4% of the company, the local news agency Seoul Economic Daily reported on Sunday.

“We are discussing partnerships, including equity investments, with overseas exchanges and domestic financial institutions,” Coinone confirmed to the outlet, adding that no final decision has been made.

Read more