- Coinone launches Korea’s first Bitcoin staking, letting users earn BABY tokens flexibly.
- Investors could stake BTC without a lockup, deposit, or withdraw anytime during the period.
- Bitplanet forms South Korea’s first Bitcoin treasury, pledging $40M in immediate buys.
Coinone, a notable South Korean exchange, has announced the first option to stake Bitcoin in the country. The service, unveiled on Friday, lets users earn rewards while keeping their coins accessible. Built on the Babylon protocol, which secures decentralized networks, the launch reflects both market innovation and the nation’s accelerating adoption of Bitcoin.
The service allows investors to stake Bitcoin while maintaining full access to their holdings. Rewards come in the form of BABY tokens, the native asset of Babylon. Unlike standard staking systems, users may add, remove, or trade Bitcoin anytime during the process, offering a level of flexibility rarely available in similar products.
Coinone CEO Lee Seong-hyun said the product reflects a global trend of holding Bitcoin long-term. He stressed that investors seek secure options that also provide passive income. He described the service as a step toward aligning with international investment practices.
The network operates on proof-of-work rather than proof-of-stake. Coinone’s service uses Babylon, which allows users to delegate Bitcoin to staking-compatible chains. This provides rewards in the form of tokens while preserving access to original Bitcoin holdings.
Bitplanet Leads Korea’s $40M Bitcoin Treasury Move
South Korea is witnessing institutional expansion. During Bitcoin Asia 2025, a new financial firm named Bitplanet was introduced. The company plans to deploy $40 million into Bitcoin as the country’s first corporate treasury allocation.
Bitplanet was formed after acquiring a 62% controlling stake in SGA, a company publicly listed on CoStock. The firm plans to complete its rebranding within two weeks and proceed with a $40 million Bitcoin investment. The allocation would be executed without the use of debt, creating a straightforward and stable treasury structure.
Paul Lee, Co-Founder and Managing Partner at Lobo Ventures, affirmed the initiative. He noted that steering clear of leverage supports steady long-term growth and highlighted that the framework gives Bitplanet greater adaptability in managing its treasury.
The debut of Bitplanet reflects South Korea’s growing embrace of Bitcoin. Together with Coinone’s retail-focused staking product, the market now covers both institutional and individual strategies. The dual developments reinforce the asset’s growing role in the nation’s financial landscape.
Related: Ethereum Hits Record Highs in Japan and Korea as Demand Soars
FSC Cracks Down on Risky Crypto Lending
Regulators have begun cracking down on high-risk lending. The Financial Services Commission directed domestic exchanges to halt crypto lending programs until a formal regulatory framework is established.
Crypto lending surged in early July. Upbit introduced a product that allowed its users to take up to 80% of deposits in won or digital currency. It accepted Tether (USDT), Bitcoin, and XRP as collateral. Bithumb subsequently provided loans with four times the user balances. Similar lending products were soon rolled out by other Korean exchanges.
The Financial Services Commission (FSC) reported that 27,600 investors borrowed 1.5 trillion won ($1.1 billion) in the first month of the program. Regulators noted the lending schemes operated in an unregulated zone.
The crackdown comes as authorities prepare wider reforms. Officials are easing limits on institutional trading. They are also reviewing the approval of South Korea’s first spot crypto ETFs. This shows an effort to expand adoption while keeping tighter oversight.
