Coinone

Coinone is one of South Korea's longest-running and largest cryptocurrency exchanges. Founded in 2014 by CEO Myunghun Cha, a cybersecurity professional, the platform was built to give Korean retail investors a reliable, domestically regulated gateway into digital assets. Over more than a decade of operation it has expanded from a Bitcoin-focused venue to a full-service exchange supporting over 200 digital assets, with Korean Won (KRW) as the primary fiat currency.

Market Position and Regulatory Standing

Coinone sits alongside Upbit, Bithumb, and Korbit as one of the four dominant Korean exchanges that collectively account for the majority of South Korea's domestic crypto trading volume. This position was cemented after September 2021, when South Korea's amended Act on Reporting and Using Specified Financial Transaction Information took effect, requiring all virtual asset service providers to obtain Information Security Management System (ISMS) certification and secure a real-name bank account with a licensed Korean bank. Coinone met both requirements and holds a full Virtual Asset Service Provider (VASP) license from the Korea Financial Intelligence Unit (KFIU). As of 2026, Coinone's real-name banking partnership is with Kakao Bank.

The exchange is subject to South Korea's Virtual Asset User Protection Act, which came into force in 2024 and introduced formal investor-protection obligations for licensed VASPs, including asset segregation requirements and mandatory insurance or reserve provisions. In April 2026, the KFIU imposed a 5.2 billion won fine and a three-month partial business suspension on Coinone for AML compliance failures, specifically improper identity verification procedures and inadequate handling of suspicious transactions. The exchange acknowledged the findings and remained operational under the sanction.

Core Products

Spot Trading

The main market allows users to buy and sell digital assets against KRW. Coinone charges a flat 0.2% fee on its standard market, with tiered maker/taker pricing available based on trading volume. Over 200 assets are listed, including Bitcoin, Ethereum, XRP, and Solana (SOL), giving Korean investors direct KRW/SOL exposure without routing through a foreign exchange.

Coinone Plus (Staking and Delegation)

Coinone Plus is the platform's delegation and staking service, enabling users to earn on-chain rewards by delegating proof-of-stake assets through the exchange. Supported networks include Solana, Ethereum (liquid staking), Kaia, and Polkadot. The exchange pools delegations from retail users and manages validator relationships, distributing daily rewards directly to user accounts. Reported annual percentage rates in 2025 reached up to roughly 6.97% on certain assets including SOL, though rates fluctuate with network conditions and the exchange's fee structure.

Coinone Lend

The platform offers a crypto lending product that allows users to generate yield on idle holdings during sideways or bear markets. Terms and eligible assets have varied over time as the product has matured.

AI Grid Trading

Coinone provides an automated grid trading system — marketed as AI trading — that places buy and sell orders at preset price intervals to capture returns from market oscillations without requiring active management by the user.

Recurring Investment

The exchange offers a systematic investment tool allowing users to schedule regular purchases of a selected asset at fixed intervals, implementing a dollar-cost averaging strategy. The product is positioned toward new retail investors entering volatile crypto markets for the first time.

NFT Marketplace

Coinone has operated an NFT marketplace, with partnerships covering cultural and entertainment verticals including musical-theater ticketing via NFT passes.

Developer API

Coinone maintains a public developer center at docs.coinone.co.kr, providing REST and WebSocket API documentation. The current published version is v1.7, with a changelog tracking changes back to v1.0. The API supports public market data, private order management, and real-time chart feeds via WebSocket.

Financial Performance

Coinone's revenue rose approximately 3% year-on-year to 31.4 million USD in 2025, entirely driven by trading fees. The exchange posted a 4.3 million USD operating loss in 2025, partly offset by other income, resulting in net income of 1.9 million USD — a significant decline from 10.8 million USD in 2024. Revenue growth reflects continued user engagement despite competitive pressure from the dominant Korean exchange Upbit.

In 2025, Korea Investment Securities entered early-stage discussions to acquire a stake in Coinone, mirroring a broader wave of consolidation in Korea's licensed exchange sector following Mirae Asset's move on Korbit.

Security Practices

The exchange stores the majority of customer funds in cold wallets, requires two-factor authentication for all accounts, enforces anti-phishing codes, and mandates full KYC identity verification in line with KFIU requirements.

Solana Relevance

Coinone provides one of the primary regulated on-ramps for Korean investors to acquire SOL with Korean Won. Through Coinone Plus, Korean retail users can delegate SOL and receive staking rewards without interacting with validator infrastructure directly. Given South Korea's outsized share of global crypto trading volume, Coinone's liquidity in the KRW/SOL pair has historically influenced Solana's regional price dynamics and contributed to the "Kimchi premium" observed across Korean crypto markets during bull cycles.