South Korean internet giant Naver reportedly joins Bithumb stake race
Naver is reportedly looking to strengthen its position in the crypto industry with a potential equity stake in South Korea’s largest crypto exchange. Major South Korean internet company Naver has reportedly begun negotiations to acquire a stake in the country’s largest cryptocurrency exchange, Bithumb.Naver has discussed a potential equity stake acquisition with major Bithumb stakeholder Vidente, local publication the Maeil Business Newspaper reported Monday, citing several unnamed sources.Naver is the provider of South Korea’s largest search engine and Line messenger, and is reportedly....
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Nexon, the South Korean multi-billion-dollar gaming conglomerate, is reportedly planning to buy a 65% stake in troubled crypto exchange Bithumb in a deal worth about 500 billion won ($460 million). ● According to local media reports, Nexon is to buy all the shares owned by Bithumb chairman Lee Jung Hoon, including several others totaling up to 65% of the exchange’s outstanding shares. ● The Tokyo Stock Exchange-listed video gaming giant has since signed a memorandum of understanding (MoU) with the sellers to facilitate the transaction. The MoU was signed at the beginning....
The Bank of Korea plans to select an operator to run a blockchain-based CBDC pilot next month that will test a digital won in various use cases. Affiliates of South Korean internet giants Naver and Kakao are among the top contenders to work on the country’s first central bank digital currency (CBDC) pilots.On Monday, the Bank of Korea (BoK) announced the preliminary bid results for participating digital won pilots, local news agency Yonhap reported. Kakao’s blockchain subsidiary Ground X, Naver-affiliated Line Plus and conglomerate SK Group were the top three companies that submitted....
Korean media has reported that Morgan Stanley is in talks with Bident — who owns a 10% of Bithumb Korea. According to Korean media, U.S.-based multinational investment banking giant Morgan Stanley is rumored to be negotiating the acquisition of a significant share in leading Korean cryptocurrency exchange, Bithumb.The news was reported on March 18 by Aju News, with Bithumb reportedly in discussions with major Bithumb shareholder, Bident — who owns a roughly 10% stake in Bithumb Korea.A March 19 article from leading local search engine Naver states that Morgan Stanley is planning to invest....
South Korean media has reported that Nexon, a multi-billion dollar conglomerate led by CEO Kim Seong-Ju, plans to acquire the country's largest cryptocurrency exchange. After a troubled few months, crypto exchange Bithumb looks like it's set on turning over a new leaf through an acquisition by one of South Korea's top gaming firms. South Korean media reported on Jan. 7 that Nexon, a multi-billion dollar gaming conglomerate, has signed a memorandum of understanding, or MoU, to acquire the exchange at an evaluated price of 650 billion won ($460 million).Nexon, led by CEO Kim Seoung-Ju, will....
Rumors abound that LG subsidiary, LG CNS, is the technical partner helping Bithumb develop its NFT marketplace which is set to be launched at some point in 2022. South Korean crypto exchange Bithumb is developing an NFT marketplace with “a large company” thought to be LG CNS, a subsidiary of LG Corporation. Bithumb CEO Heo Baek-young confirmed in a Jan. 13 interview that the exchange was currently developing a nonfungible token (NFT) exchange which would help it stay competitive with Korbit and Upbit, two other domestic Korean exchanges. Heo said:“An NFT marketplace will be important in....