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S. Korean crypto exchange Bithumb sold to Singaporean consortium

2018/10/12 13:59

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SEOUL, Oct. 12 (Yonhap) -- South Korea's biggest cryptocurrency exchange, Bithumb, has been sold to Singapore-based BK Global Consortium, industry insiders said Friday.

BK Global finalized its contract with the digital money exchange's largest shareholder, BTC Korea Holdings, on Thursday to buy 50 percent plus 1 stake for 400 billion won (US$352.5 million), according to the insiders.

BTC Korea Holdings had owned a 75.99 percent stake in Bithumb.

The contract is expected to help the Singaporean entity maximize Bithumb's know-how and potential to further develop blockchain technologies, the insiders said.