Main South Korean web firm Naver has reportedly begun negotiations to amass a stake within the nation’s largest cryptocurrency trade, Bithumb.
Naver has mentioned a possible fairness stake acquisition with main Bithumb stakeholder Vidente, native publication the Maeil Enterprise Newspaper reported Monday, citing a number of unnamed sources.
Naver is the supplier of South Korea’s largest search engine and Line messenger, and is reportedly searching for to increase its platform’s presence within the nation’s fintech market. The web large is reportedly planning so as to add Bitcoin (BTC) as a fee possibility on its fee companies Naver Pay in addition to Line Pay in Japan and the US.
As reported, there are a minimum of 10 corporations searching for a stake in Bithumb together with main U.S. funding banks like Morgan Stanley and JPMorgan, fee large Visa, in addition to the world’s largest crypto trade, Binance. In keeping with a report by The Korea Occasions, Deutsche Financial institution can be amongst potential buyers.
Bithumb has been the topic of a number of experiences and rumors concerning a possible acquisition deal over the previous a number of years. The South Korean crypto large has reportedly been negotiating the sale with foreign companies since a minimum of 2019, following alleged difficulties with funds in Bithumb’s earlier acquisition offers. Gaming conglomerate Nexon denied reports that it was acquiring a stake within the trade.
Naver didn’t instantly reply to Cointelegraph’s request for remark.