Coinone is a South Korean centralized cryptocurrency spot exchange operating Korean won order books. Founded in 2014, the exchange operates under South Korea's regulatory framework for digital asset providers, connecting domestic banking rails with spot crypto markets.
Leadership and backing
Coinone, Inc. is headquartered in Seoul and was established by Founder and Chairman Myunghun Cha, a computer science graduate from Postech and former competitive white hat hacker with honors from DEFCON CTF and Codegate. Cha holds management control with a 27.8% equity stake, alongside game publisher Com2uS Holdings with 25%. In May 2026, OKX Ventures and Korea Investment & Securities each acquired 19.6% stakes through a combined 160 billion won ($106 million) investment. Kakao Ventures is also an early backer of the firm.
Trading mechanics and features
The platform runs an order-book spot exchange centered around KRW trading pairs. Users trade digital assets through a web terminal or programmatic interfaces. Developer access includes Public REST API V2, Private REST API V2.1, and streaming Websockets for live order-book depth, price tickers, and automated trade execution. The platform includes an integrated Coinone Wallet securing deposits and withdrawals with multi-signature architectures. Coinone also manages periodic promotions, including zero-fee campaigns on pairs like RLUSD/KRW and balance-holding incentives.
Regulatory status and security history
Coinone is registered as a Virtual Asset Service Provider (VASP) under South Korea's Financial Intelligence Unit (FIU), with financial audits conducted by accounting firm DongHaeng in 2022. In October 2026, 24-hour spot trading volumes reached roughly $168M. In April 2026, the FIU issued a 5.2 billion won ($3.49 million) penalty and a three-month partial business suspension over violations of the Specific Financial Information Act, finding identity verification failures across roughly 70,000 cases and processing transactions with 16 unregistered offshore exchanges.
Risks and availability
Coinone is available in South Korea and selected Asian markets, and does not accept US customers. Trading is spot-only, without crypto derivatives or margin leverage. Users face centralized exchange custodial risks and mandatory identity verification.