Media: The owner of Bitstamp and Korbit began to get rid of the crypto business

  • Korean owner of exchanges Bitstamp and Korbit began to reduce blockchain assets

  • The amount of the transaction for the sale of the blockchain company amounted to $ 903 thousand.

  • Experts expect a shift in the focus of the crypto exchange owner from the virtual currency market to fintech

Media: Owner of Bitstamp and Korbit ...

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Korean gaming giant Nexon, which owns cryptocurrency exchanges Bitstamp and Korbit, has begun to sell off blockchain subsidiaries

South Korean gaming giant and publisher Nexon Corporation, which owns the Bitstamp and Korbit crypto exchanges, has sold one of its most important blockchain companies. The leading Korean publication Chosun writes about this, citing sources close to the deal..

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Media: Owner of Bitstamp and Korbit ...

In particular, it is reported that at the end of September Nexon sold 100% of the shares of Blockchain Entertainment Lab, a subsidiary of blockchain research and development, for $ 903 thousand.

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Local experts believe that the sale of the main blockchain asset Nexon indicates a shift in the focus of the gaming firm from the cryptocurrency market to fintech, writes Chosun..

Shrinking assets

Recall that the Korean crypto exchange Korbit was sold to the game manufacturer back in September 2017 for $ 80 million. A year later, in October 2018, Nexon bought the Luxembourgian crypto exchange Bitstamp. According to unofficial data, the transaction amount was $ 350 million.

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Meanwhile, the crypto exchanges themselves are actively expanding their business despite the controversial decisions within Nexon. Bitstamp introduced an additional layer of protection for digital assets in mid-October with an emergency insurance policy.

At the same time, according to unconfirmed reports, Bitstamp, together with the American crypto exchange Coinbase, actively contribute to supporting the liquidity of cryptocurrencies from the financial giant PayPal..

Korean exchange Korbit continues to rank among the four largest crypto trading platforms in South Korea.

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