The crypto industry is booming by the day. The interest in acquiring a stake in Bithumb, a prominent cryptocurrency exchange, headquartered in South Korea is substantial proof for the same.
Bitcoin and an array of other coins elevated the interest and adoption rate of crypto. This further brought in institutional interest in these digital assets. While several speculated that this was temporary, the inclination of notable platforms seeking a stake in Bithumb shows that the enthusiasm has prolonged. More recently, a leading South Korean internet firm revealed its interest in garnering a stake in Bithumb.
Bithumb Has Over 10 Firms Seeking A Stake
A local news portal affirmed that the South Korean internet giant, Naver has been talking to Vidente, a Bithumb stakeholder with regard to a possible equity stake in the cryptocurrency exchange. Naver joined the list of over ten other platforms seeking a stake in South Korea’s largest cryptocurrency exchange.
This list included major banks like JP Morgan, Morgan Stanley as well as Changpeng Zhao’s Binance. Visa, the payments platform is also looking to garner a stake at the crypto exchange. Additionally, rumors regarding Deutsche Bank jumping onto this bandwagon also surfaced.
Currently, the Chairman of Bithumb holds over 65% stake in the exchange, whereas Vidente owns over 34%.
Similar to all the other platforms, Naver intends to dive into the crypto-verse. The internet firm has been looking into inducing Bitcoin [BTC] as a method of payment on its Naver Pay and Line Pay in Japan and the United States.
Furthermore, the stringent laws that the Korean government has been imposing have left several crypto platforms in the country in a state of anxiety. OKEx Korea will reportedly shut shop giving users time until 7 April 2021. The post read,
“OKEx Korea service has ended on April 7th. We would like to thank all of our customers who have used OKEx Korea in the meantime, and we hope that you must check the information below regarding the termination of the service.”