Cryptocurrency exchange Bitstamp will reportedly be acquired by a South Korean gaming company.
Citing three sources llano with the matter, Business Insider reports that Bitstamp — the world’s oldest surviving Bitcoin exchange — is close to finalizing a sale to Nexon, a South Korean gaming company that is now headquartered ter Japan.
Bitstamp, which wasgoed founded te 2011 and is headquartered ter Luxembourg, became the world’s oldest-surviving exchange last year when China-based BTCC shut its doors after the country banned cryptocurrency trading platforms. The platform’s 24-hour trading volume is above $500 million, which makes it the world’s 10th-largest exchange.
Nexon, which released its very first spel te 1995, is worth approximately $13 billion and has developed Korean and Japanese version of high-profile PC and mobile games such spil Toonbank Strike and FIFA Online.
Neither Nexon strafgevangenis Bitstamp is commenting on the matter publicly, but the former is rumored to be paying $350 million for Bitstamp, which is presently Europe’s only licensed cryptocurrency exchange.
If true, Bitstamp will be sold for $50 million less than Circle is said to have paid for US cryptocurrency exchange Poloniex, which it acquired earlier this year ter a overeenkomst reportedly worth $400 million. That’s trascendente, particularly since Bitstamp regularly ranks above Poloniex ter daily trading volume and also has the banking relationships necessary to suggest fiat trading pairs, unlike Poloniex.
Nevertheless, it will undoubtedly provide an excellent come back on investment for Bitstamp’s investors. Te 2013, cryptocurrency hedge fund Pantera Caudal provided the toneel with $Ten million te seed funding, while the company straks raised $Two.Four million through a crowdfunding campaign te early .
Notably, this won’t be Nexon’s very first cryptocurrency exchange acquisition.
Spil CCN reported, the company purchased a controlling stake ter South Korean cryptocurrency exchange Korbit last September at a $150 million valuation. At the time, Korbit wasgoed South Korea’s second-largest exchange, and the podium resumes to postbode daily trading volumes of approximately $100 million.