South Korean gaming giant Nexon acquires Korbit for $80 million, $150 million valuation

South Korean gaming giant Nexon acquires Korbit for $80 million, $150 million valuation

THELOGICALINDIAN - South Korea has had Bitcoin agitation in the accomplished few weeks and the blaze aloof continues to be fueled Top barter Korbit has been acquired by gaming aggregation behemothic Nexon for 91 billion Koreanwon

The Growing South Korean Market

South Korea has been abolition the archive back it comes to cryptocurrency barter volume, and the old money is noticing. Many companies in South Korea are bent aboard the train, advance heavily in the nation’s crypto sector. Bithumb, a Korean exchange, is absolutely at the top of the archive appropriate now in agreement of absolute barter volume. With this accretion demand, added and added exchanges are bustling up demography advantage of the added interest.

Another Korean-based barter accepted as Korbit is bound aggressive the ranks as well, afresh abutting the top 15 exchanges globally. While the aggregation is still new and is a continued way abaft Bithumb, it is recording added barter aggregate on assertive agenda currencies. And some bigger corporations in the arena are aggravating to get in early.

Nexon is a gaming aggregation that was founded in the mid 1990’s and is a all-around baton in MMORPGs and added adaptable games. At the alpha of the decade, they confused their accumulated address from Seoul to Tokyo, Japan, which additionally happens to be one of the aboriginal nations to acknowledge Bitcoin as acknowledged tender.

Nexon Acquires Korbit

They purchased Korbit beforehand this week for aloof about 91 billion Korean won, account almost $80 actor USD. The capacity of the acquirement is that Nexon bought 65% of Korbit’s shares and took over all authoritative operations. Nexon commented on the agreement, adage they achievement to alter their business model, forth with restating their aplomb that blockchain technology will abide to abound and become added and added mainstream.

Do you anticipate South Korea will abide to become a crypto-giant? Do you anticipate this is the end of the money trail? Let us apperceive in the comments below!

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