Gaming Firm to Buy $80 Million Stake in Korean Bitcoin Exchange Korbit

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Interestin South Korea’s flourishing cryptocurrency market continues apace.

Followingits introduction as an international leader in bitcoin and cryptocurrency volume, regional exchange start-up Korbit has actually revealed that PC and mobile gaming firm Nexon has actually signed a stock trading contract that would see it get Korbit’s management rights.

Accordingto regional news source, Hankyung, Nexon has actually concurred to purchase a 65 percent stake in Korbit at a price of 91.3 billion Korean won (approximately $80million).

Accordingto information from CoinMarketCap, Korbit sees approximately 11,500BTC in everyday trading, volumes that put it in the top 15 worldwide.

Asproof that domestic interest is broadening to corporates, Nexon supposedly gotten Korbit to diversify its company, the news source stated, even more suggesting that the gaming firm thinks the blockchain market will grow in coming years.

Therelocation follows on the heels of news today that mobile app maker Dunamu would likewise look for entryway into the marketplace, revealing the launch of a new exchange in a joint endeavor with U.S. exchange Bittrex.

Foundedin 1995, Nexon specializes in enormously multiplayer online role-playing video games (MMORPGs) and web test video games, using items that significantly make use of micro-transactions for in- video game purchases.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Korbit.

South Korean wonimage by means of Shutterstock

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