Korea Investment Securities teams up with Coinone to offer stock trading in crypto app

Korea Investment Securities has partnered with virtual asset exchange Coinone to offer a domestic stock trading service directly within the Coinone app.

Korea Investment Securities, a subsidiary of Korea Investment Holdings, announced Monday that it has launched the domestic stock trading service linked to the Coinone mobile app.

The service, which went live Friday, is accessible through a newly added "Stock Investment" tab on the Coinone app's home screen. Users can browse trending domestic shares in real time, select a stock, complete a quick authentication process and be directed to Korea Investment Securities' web trading system (WTS) to view stock information and execute trades. Customers who do not already hold a Korea Investment Securities Bankis account can open one through a separate account-creation process before using the service.

The collaboration is the first joint initiative since Korea Investment Securities made a strategic equity investment in Coinone in May. The Financial Services Commission's Korea Financial Intelligence Unit (KoFIU) approved Wednesday a change-of-major-shareholder filing for Coinone, in which Korea Investment Securities and OKX Ventures — the investment arm of global virtual asset exchange OKX — participated. The two companies each invested 80 billion won ($54.4 million), acquiring approximately 20 percent stakes in Coinone and becoming joint third-largest shareholders.

Korea Investment Securities said the service is expected to improve convenience for customers who invest in both virtual assets and shares, as they can move directly to the stock trading feature from the Coinone app without installing a separate MTS.

A promotional event tied to the service launch runs through Aug. 21. New customers who open an account by linking the Coinone app with Korea Investment Securities' WTS will receive 10,000 won in Naver Pay, while existing account holders — on a first-come, first-served basis for the first 1,000 customers — will receive 5,000 won in Naver Pay. Customers who trade 1 million won or more after linking their accounts will receive an additional 5,000 won in Naver Pay, and those who trade 5 million won or more will be entered into a draw for one share of Samsung Electronics. Full event details and applications are available on the Coinone mobile app.

"This service was designed to give investors who move between the virtual asset and stock markets a more intuitive and convenient asset management environment," said Kwak Jin, head of Korea Investment Securities' eBiz division. "We will continue to actively expand partnerships with competitive digital platforms so customers can experience differentiated financial services."