Bitstamp to Be Sold $350 Million to South Korean Gaming Firm.

Cryptocurrency barter Bitstamp will reportedly be acquired by a South Korean gaming company.

Citing three sources accustomed with the matter, Business Insider letters that Bitstamp — the world’s oldest actual Bitcoin barter — is abutting to finalizing a auction to Nexon, a South Korean gaming aggregation that is now headquartered in Japan.

Bitstamp, which was founded in 2011 and is headquartered in Luxembourg, became the world’s oldest-surviving barter endure year if China-based BTCC shut its doors afterwards the country banned cryptocurrency trading platforms. The platform’s 24-hour trading aggregate is aloft $500 million, which makes it the world’s 10th-largest exchange.

Nexon, which appear its aboriginal bold in 1995, is account about $13 billion and has developed Korean and Japanese adaptation of high-profile PC and adaptable amateur such as Counter Strike and FIFA Online. Neither Nexon nor Bitstamp is commenting on the amount publicly, but the aloft is accounted to be paying $350 actor for Bitstamp, which is currently Europe’s alone accountant cryptocurrency exchange.

If true, Bitstamp will be awash for $50 actor beneath than Circle is said to accept paid for US cryptocurrency barter Poloniex, which it acquired beforehand this year in a accord reportedly account $400 million. That’s notable, decidedly back Bitstamp consistently ranks aloft Poloniex in circadian trading aggregate and aswell has the cyberbanking relationships all-important to action authorization trading pairs, clashing Poloniex.

Nevertheless, it will assuredly accommodate an accomplished acknowledgment on investment for Bitstamp’s investors. In 2013, cryptocurrency barrier armamentarium Pantera Capital provided the belvedere with $10 actor in berry funding, while the aggregation after aloft $2.4 actor through a crowdfunding attack in aboriginal 2017.

Notably, this won’t be Nexon’s aboriginal cryptocurrency barter acquisition. CCN address the aggregation purchased a authoritative pale in South Korean cryptocurrency barter Korbit endure September at a $150 actor valuation. At the time, Korbit was South Korea’s second-largest exchange, and the belvedere continues to column circadian trading volumes of about $100 million.