Cryptocurrency

Nexon denies Bitstamp acquisition news

(Last Updated On: April 26, 2018)

In the news yesterday was the acquisition of one of the largest cryptocurrency firm Bitstamp by a Korean video gaming company Nexon.

But the video gaming company has refuted the news, saying it’s not true. We understand that, since companies deny any acquisition news which hasn’t been made official.

Acquisition of a new company requires highly powered delegation from the seller and buyer, as such it requires official statement.

Relying on Korean Herald report April 25, 2018, Infobase reported that Nexon was ready to bring millions of US dollars to the table in a bid to take over the bitcoin trading platform Bitstamp, which is based in Luxembourg.

The company’s denial comes after Business Insider wrote yesterday about a possible deal rumoured between Nexon Korea and Bitstamp, where the latter would acquire the former for around $350 million US Dollars.

Bitstamp acquisition has been filtering around since the beginning of 2018, though based on insider sources, negotiations might have collapsed.

No possible potential in using Blockchain technology for gaming development

Nexon Korea CEO Lee Jung-hun said at a press conference at Nexon Korea headquarters that “Nexon Korea does not have anything to do with a Bitstamp acquisition,” adding:

“We do not have any plans to link cryptocurrencies with our game business.”

Lee Jung-hun, categorically said he does see the potential in possibly using Blockchain technology for game development.

Nexon is a global video game company founded in Seoul, South Korea, and is headquartered in Tokyo, Japan. The company is owned by NXC Corporation, which bought a 65.19 percent stake in Korean crypto exchange Korbit last year.

About the author

Opeyemi Quadri

Ope is the brain behind all contents on infobase, an online media which is among the earliest and foremost publications covering N-power Programme, cryptocurrency, travel guide and other problem-solving guides. He has authored over 1,000 articles for infobase.

When he isn't watching Channels Tv or BBC, he's on NatGeoWild. He's cryptocurrency and blockchain enthusiast. Email: ope@infobase.com.ng

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