Bithumb Sells $350 Million Stake in Its Cryptocurrency Exchange

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Bithumb, one of the most important exchanges in South Korea, has sold almost 40% of its shares to a blockchain consortium, in what aims to be a strategy to regain its strength within the Asian market.

The negotiation had a value of 400 Billion Won, which is equivalent to about 350 Million Dollars. That value represents approximately 38% of the company’s shares.

According to Coindesk Korea, Bithumb signed the deal on October 11th and the company that obtained the rights was BK Global Consortium, a blockchain investment firm that emerges as the blockchain arm of BK Global, a plastic surgery medical group located in Singapore. See more for yourself here.