Bithumb sells stake in USD 350 million deal

Friday 12 October 2018 10:58 CET | News

Bithumb has sold more than 38% of its total ownership to a blockchain consortium based in Singapore, for USD 350 million.

Currently considered the largest cryptocurrency exchange in South Korea by trading volume, Bithumb confirmed the deal was signed on October 11 with BK Global Consortium, a blockchain investment company formed by BK Global, a plastic surgery medical group in Singapore.

According to CoinDesk the acquisition deal valued Bithumb at more than USD 880 million. Subsequently, Kim Byung Gun, a plastic surgeon and also the chairman of BK Group, will be the largest shareholder of Bithumb. Based on the report, Kim is also an early cryptocurrency investor, who founded an initial coin offering (ICO) consulting company and ICO platform in Singapore in August 2018.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Bithumb, crypto exchange, Bitcoin, tokens, Ethereum, BITHUMB Coin, South Korea, blockchain
Countries: World