Main South Korean web firm Naver has reportedly begun negotiations to amass a stake within the nation’s largest cryptocurrency alternate, Bithumb.N
Main South Korean web firm Naver has reportedly begun negotiations to amass a stake within the nation’s largest cryptocurrency alternate, Bithumb.
Naver has mentioned a possible fairness stake acquisition with main Bithumb stakeholder Vidente, native publication the Maeil Enterprise Newspaper reported Monday, citing a number of unnamed sources.
Naver is the supplier of South Korea’s largest search engine and Line messenger, and is reportedly looking for to increase its platform’s presence within the nation’s fintech market. The web big is reportedly planning so as to add Bitcoin (BTC) as a cost possibility on its cost providers Naver Pay in addition to Line Pay in Japan and america.
As reported, there are not less than 10 corporations looking for a stake in Bithumb together with main U.S. funding banks like Morgan Stanley and JPMorgan, cost big Visa, in addition to the world’s largest crypto alternate, Binance. In response to a report by The Korea Occasions, Deutsche Financial institution can also be amongst potential buyers.
Bithumb has been the topic of a number of studies and rumors relating to a possible acquisition deal over the previous a number of years. The South Korean crypto big has reportedly been negotiating the sale with international corporations since not less than 2019, following alleged difficulties with funds in Bithumb’s earlier acquisition offers. Gaming conglomerate Nexon denied studies that it was buying a stake within the alternate.
Naver didn’t instantly reply to Cointelegraph’s request for remark.