RATE Group | Bithumb Sells $350 Million Stake in Its Cryptocurrency Exchange to a Blockchain Consorti…
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Bithumb Sells $350 Million Stake in Its Cryptocurrency Exchange to a Blockchain Consorti…

14 Oct Bithumb Sells $350 Million Stake in Its Cryptocurrency Exchange to a Blockchain Consorti…

Posted at 10:34h in Cryptocurrency News by

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Bithumb, one of the most important exchanges in South Korea, has sold almost 40% of its shares to a blockchain consortium, in what aims to be a strategy to regain its strength within the Asian market.

The negotiation had a value of 400 Billion Won, which is equivalent to about 350 Million Dollars. That value represents approximately 38% of the company’s shares.

According to Coindesk Korea, Bithumb signed the deal on October 11th and the company that obtained the rights was BK Global Consortium, a blockchain investment firm that emerges as the blockchain arm of BK Global, a plastic surgery medical group located in Singapore.

Bithumb Has a New Successful Shareholder

Kim Byung Gun

BTC Holdings Company, Bithumb’s majority shareholder, agreed to sell 50%+1 of its total shares to the BK Global Consortium. As a result, it has gone from owning 76% of Bithumb’s equity to just under 38%.

With this new partnership, the share distribution will have a little more stability, and its…

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