South Korean Tech Giant Kakao Acquires Majority Stake In A Japanese Crypto Exchange

South Korean Tech Giant Kakao Acquires Majority Stake In A Japanese Crypto Exchange

THELOGICALINDIAN - A accessory of South Korean internet and technology behemothic Kakao has acquired a majority allotment in a Japanese cryptocurrency barter paving the way for the aggregation to accommodate its webbased animation agreeable with its crypto services

Kakao Piccoma, a accessory of Kakao in Japan, has bought added than 50% of the Japanese cryptocurrency barter Sakura Barter Bitcoin (SEBC).

Kakao and SEBC fabricated no acknowledgment of the absolute admeasurement of the shareholding or the deal’s worth.

SEBC was founded in May 2024 and now supports 11 altered cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and XRP.

First M&A For Kakao

The accretion of the Japanese crypto barter is Kakao’s aboriginal alliance and accretion move back architect Kim Beom-su accommodated as administrator aftermost ages and apprenticed to focus on growing its all-around business beneath the company’s “Beyond Korea” plan.

According to Yonhap and an official advertisement on the Sakura Exchange BitCoin website, Piccoma has become the trading platform’s better shareholder.

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Piccoma, Japan’s better web-based animation (webtoon) account provider, is operated by the Kakao subsidiary.

SEBC appear the cancellation of a “capital access by way of third-party allotment” of shares. Hitomi Yamamoto, the company’s arch controlling officer, will abide in charge, but a cardinal of new admiral accept been recruited.

Expanding Business In Blockchain And Crypto

The acquisition’s cold is to authorize and aggrandize business in Web3 through the use of blockchain and cryptocurrency technology.

Piccoma, for its part, is acceptable to accommodate bitcoin and blockchain technology into its webtoon platform.

“The contempo adjustment is Piccoma’s aboriginal attack into sectors added than webtoons,” an industry official explained.

Kim appear in mid-March that Beyond Korea would activate in Japan, area Piccoma has acquired to become the country’s better agenda comics platform, alms a assorted alternative of Japanese manga and webtoons.

Recent developments accommodate the barrage of Kakao’s webtoon cable account in Europe.

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Japanese comics annual for over 30% of absolute banana book sales in France, area the South Korean tech behemothic opened Piccoma’s Europe appointment in September 2024 and has been operating there since.

Kakao entered the blockchain amplitude in 2024 with the conception of its blockchain accessory Ground X. The abutting year, it launched Klaytn, a belvedere for bitcoin and blockchain development.

Kakao founded Krust in Singapore in October aftermost year, accepting the Klaytn activity from Ground X in adjustment to extend its blockchain business globally.

According to Bloomberg aftermost year, Kakao was exploring a Japanese banal bazaar alms because of the success of its manga app, which competes with Line, Japan’s best accepted messaging app.