South Korean Tech Giant Kakao Acquires Majority Stake In A Japanese Crypto Ex...
A subsidiary of South Korean internet and technology giant Kakao has acquired a majority share in a Japanese cryptocurrency exchange, paving the way for the company to integrate its web-based cartoon content with its crypto services. Kakao Piccoma, a subsidiary of Kakao in Japan, has bought more than 50% of the Japanese cryptocurrency exchange Sakura […]
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Satoshi Citadel has raised seed funding from KVG, which is the venture capital arm of Korean web giant Kakao. According to the Bitcoin company, this is a strategic partnership that could bring its “innovative solutions” to Kakao’s 100 millions users. Kakao is Big in South Korea. Kakao is a household name in South Korea, as this web giant has a mobile app....
It follows a history of crypto projects from Kakao, including its Ground X blockchain subsidiary, which won the South Korean Central Banks’ CBDC tender last year. Kakao Piccoma, a Japanese digital comics' subscription service and subsidiary of the Korean internet company Kakao, has purchased a 50% controlling stake in the Japanese cryptocurrency exchange, Sakura Exchange Bitcoin (SEBC).That makes Kakao its largest shareholder and the deal is also expected to help Kakao offer cryptocurrency services on its Piccoma webtoon platform, and expand aggresively into Web3, according to local media....
Analysts in South Korea are predicting a significant share price increase for Kakao amid the current Bitcoin bull market. With crypto trading reportedly reaching feverish proportions in South Korea, internet giant Kakao might be set for an upward share price advance.Quoting comments from analysts Mirae Asset Daewoo — a South Korean brokerage outfit — The Korea Herald has reported that the chat app operator stands to benefit from the ongoing enthusiasm in the Bitcoin (BTC) market. According to Mirae Asset Daewoo analyst Kim Chang-kwon:“Kakao owns about a 23 percent stake directly and....
A former South Korean social media giant is still keeping alive its promise to relaunch its business with the help of the cryptocurrency industry. A local media outlet reported that Cyworld is in talks with “major gaming companies” that involve crypto-related ventures. Company Also Plans to Launch Its Mainnet to Compete With Kakao According to Yonhap, Cyworld is looking to arrange deals with software makers in the gaming industry to adopt in games its Ethereum-based token Dotori (SNS). A representative from the firm said: We are discussing ways to exchange Cyworld tokens, which....
ConsenSys, a major Ethereum software company, will contribute its technology to South Korean CBDC simulations led by Ground X. The central bank of South Korea has chosen a blockchain subsidiary of local internet giant Kakao as a technology provider for its digital currency pilots.Kakao’s Ground X had won the Bank of Korea’s central bank digital currency (CBDC) tender, becoming the principal technology supplier for blockchain-based digital won simulations, local news agency Korea JoongAng Daily reported Tuesday.The central bank announced that Ground X will participate in the South Korean....