Korea's Largest Bitcoin Exchange Sells Stake in $350 Million Deal

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Bithumb, currently the largest cryptocurrency exchange in South Korea by trading volume, just confirmed it has sold more than 38 percent of its total ownership to a blockchain consortium based in Singapore, for 400 billion won, or $350 million.

As reported by CoinDesk Korea, Bithumb confirmed the deal was signed on Oct. 11 with BK Global Consortium, a blockchain investment firm formed by BK Global, a plastic surgery medical group in Singapore.

BTC Holdings Company, which currently owns 76 percent of Bithumb’s equity, has agreed to sell 50 percent + 1 shares of that 76 percent ownership to BK Group – a move that would make the latter the biggest controller of Bithumb when the transaction is complete.

The report added

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