Investment bank Morgan Stanley has entered into negotiations to buy a stake in the South Korean cryptocurrency exchange Bithumb, Naver reports, citing sources.
According to him, Morgan Stanley is interested in acquiring a stake in the Korean crypto exchange and is ready to invest from 300 to 500 billion won ($254-441 million). Presumably, the negotiations are being conducted through Bident, which owns 10% in Bithumb Korea. Bithumb's valuation is expected to be around $2 billion.
According to the publication, discussions with the new investor began amid difficulties in a deal with NXC Corporation, which owns the gaming company Nexon and acquired the oldest exchange in Europe, Bitstamp, in 2018. Although NXC also showed interest in buying a stake, with the advent of Morgan Stanley, its offer faded into the background, according to the publication.
This week, the media learned about the plans of Morgan Stanley to provide wealthy clients with access to investments in bitcoin through specialized funds. At the same time, Morgan Stanley admitted that the appropriate allocation of bitcoin in the investment portfolio can be up to 2.5% of the total volume.
Last November, the network reported that the Huobi exchange is among the potential buyers of a stake in Bithumb.
SUBSCRIBE
#StockPhotos
https://steemit.com/trending/hive-109286
The best place to share your free to use stock photos and earn STEEM, SBD & TRX.
Your post is rewarded and we support every member of the community!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit