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South Korean Gaming Company, Nexon, To Purchase Bitstamp for $350 Million

Correction: Soon after the Business Insider report, Nexon denied claims they were purchasing Bitstamp.

According to a report by Business Insider, Bitstamp is to be sold to the South Korean gaming company, Nexon. Bitstamp is currently the world’s oldest surviving cryptocurrency exchange.

Sources close to the deal say that Bitstamp will likely be acquired by Nexon, a South Korean company with its headquarters in Tokyo, Japan. The price for the buyout is said to be somewhere around $350 million.

According to the report when Bitstamp was asked if the deal was coming to fruition they released an unofficial comment, “We kindly ask you to keep an eye out for any official statement from our side on the topic of your inquiry."

Founded in 2011, Bitstamp is headquartered in the small European country of Luxembourg and is the 13th largest exchange of its kind in the world. They currently have approximately three million registered accounts and 500,000 active trading accounts.

Founded in Seoul, South Korea in 1994, Nexon is a major video game company that specializes in mobile and online games for the PC. The company currently has over 80 titles in over 190 countries. In 2005, the company moved its headquarters from Seoul, South Korea to Tokyo, Japan.

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Jack Taylor is a freelance journalist who has contributed to many award winning media outlets on a wide range of topics regarding trending technologies, cryptocurrency, blockchain & digital privacy.
Tennessee