The Crypto Times
Image default
Industry

Two Consortiums at the Forefront of Interested Nexen Buyers

The Kakao Group and Netmarble are now at the forefront of potential buyers of Nexon (NXC), a digital empire that encompasses two premier cryptocurrency exchanges – Bitstamp and Korbit. Tencent also remains a key competitor.

Aside from Bitstamp and Korbit, Nexon also includes brands devoted to babycare and gaming. It’s vast holdings is reason enough for NXC’s alleged asking price of $8.8 billion.

Other Bidders

Tencent, Netmarble, and the Kakao Group have been leading the charge of interested bidders ever since news first emerged that Nexon was on the market. The winner of the NXC race will be a major player in the dynamic crypto market.

If Kakao successfully closes the deal, it will be at the forefront of a massive blockchain and cryptocurrency network. The South Korean conglomerate has already invested heavily in Dunamu, Upbit’s operator. The company also manages Ground X, it’s very own blockchain company. There have been rumors that Kakao is also considering launching its own token to support Kakao Pay.

Meanwhile, Netmarble has been a strong voice of the cryptocurrency and blockchain movement. There has also been whispers of a Netmarble Coin being developed.

Interestingly, Korbit has already shut down its business group in the United States. While the company planned on penetrating North America’s crypto space, the extended bear market and shrinking niche has caused it to abandon its plans.

An NXC insider revealed that while the company stands by the decision to shut down its American arm, there are no plans to sell Korbit.

Bitstamp is faring better though, with it securing a BitLicense permit from New York’s Department of Financial Services. This allows the company to buy, sell and trade Bitcoins and altcoins.

Related posts

BitGo to Offer Crypto Insurance Up to $100 Million

Sierra Sanders

Ernst & Young Auditing Company Releases New Info on Two Blockchain-Backed Products

Viena Abdon

Invesco Blockchain ETF Goes Live on London Stock Exchange

Viena Abdon

Overstock Keeps Retailing, Supporting Blockchain and Crypto Projects

Viena Abdon

Coinbase Introduces Global Payments With USDC and XRP

Viena Abdon

College Campuses Become Major Crypto Miners from Free Electricity

Viena Abdon