News coming out of the local media in South Korea indicate the sale of Bithumb to BK Global Consortium. Bithumb is one of the largest cryptocurrency exchange platforms in the market, while BK Global is a Singapore-based firm.
Details of the Sale
According to Yonhap News Agency, BK Global has acquired Bithumb – the largest cryptocurrency exchange service in South Korea. Sources claim the Singapore-based firm bought a 50 percent stake plus one share from BTC Korea, the platform’s largest shareholder.
Before the sale, BTC Korea owned more than 75 percent of Bithumb’s shares. BK Global reportedly acquired the 51 percent stake for about 400 billion won ($353 million). Once the deal is finalized, Kim Byung-gun, noted plastic surgeon and BK chief, becomes the exchange’s largest shareholder.