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  HOME | Business & Economy (Click here for more)

BK Global Acquires South Korea’s Largest Bitcoin Exchange

SEOUL – Singapore-based BK Global Consortium has acquired majority stake in South Korea’s biggest bitcoin exchange Bithumb, according to sources close to the deal.

On Thursday, BK Global closed a deal with Bithumb’s largest shareholder, BTC Korea Holdings, to buy 50 percent plus one share for around 400 billion won ($353 million), South Korean news agency Yonhap reported on Friday.

With this deal, BTC Korea Holdings, which had 75.99 percent ownership in Bithumb, gave up its majority control to the consortium, which is led by Kim Byung-gun, one of South Korea’s leading plastic surgeons.

Kim is a well-known investor in technology and biotech startups and has expressed a growing interest in blockchain, the technology behind cryptocurrency.

Bithumb is one of the world’s largest bitcoin exchanges, according to specialized website, Coinmarketcap.

 

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