Korean gaming giant Nexon announced on Tuesday the acquisition of Korbit, Korea’s very first everzwijn Bitcoin Exchange, the 2nd largest te volume behind Bithumb.
Nexon’s holding company (NXC) announced its plans on Tuesday to acquire 125,000 shares of Korbit for 91.25 billion won (approximately US $80.Three million), providing it a 65.Nineteen procent ownership stake te Korbit. The overeenkomst is being billed by Korea’s leading financial newspaper Hankyung spil “the very first large-scale merger & acquisition among domestic posible currency-related companies.”
Many of Nexon’s games have an in-game store where players can buy time-limited digital goods, such spil improvised upgrades, special avatars, pets, and other equipment for auténtico metselspecie. For certain games, the in-game shop offers a shop permit, which permits players to set up their own store inwards the game’s “Free Market.”
Presently, gaming news hub MMO Examiner ranks Nexon’s AxE multiplayer RPG spel spil the top seller te the Korean Apple store, and second-highest on Korea’s Google Play store. The company’s best-known spel, however, is still Maplestory, a multiplayer side-scrolling escapade that wasgoed very first released ter Japan te 2003 and still maintains a strong following. Ems of millions of gamers worldwide have played Maplestory, and the spel has bot influential ter popularizing in-game digital purchases.
The currency used ter all of Nexon’s in-game markets is its own posible currency ‘NX’. The company-controlled currency pre-dates blockchains, and there wasgoed no mention ter the announcement if NX coins would be traded on its fresh exchange along with cryptocurrencies.
Nexon’s Korean competitors are not content taking a wait-and-see treatment, however, with Mgame Corp announcing on Thursday that it is launching a cryptocurrency exchange and mining business, adding that it planned to utilize its popular gaming portal to market a fresh cryptocurrency business. Mgame Corp plans to launch its fresh ventures zometeen this year and has recently signed contracts with cryptocurrency mining hardware provider Coinsoop and payments provider Paytto.
Popular apps are also joining the trend. Te August, Kakao Stock – a popular Korean securities trading app based on the country’s number one smartphone messenger app Kakao Talk – announced the launch of its own app-based bitcoin exchange inwards its stock-trading program.
Kakao Stock’s technicus, Dunamu also announced on September 26th that it plans to launch a separate cryptocurrency exchange called Upbit. Through a partnership with the popular cryptocurrency exchange Bittrex, Dunamu says Upbit will list overheen 100 cryptocurrencies primarily, making it more comparable to Poloniex than to existing Korean exchanges.
The company will use BitGo wallets for customer accounts and claims it will be the largest digital currency exchange ter South Korea. Pre-registration for Upbit has begun, with a launch date scheduled for sometime ter October.
Overall, bitcoin trading volumes ter Korea have bot rising steadily. The country presently ranks fourth ter entero bitcoin trading volumes and Korea’s largest bitcoin exchange, Bithumb, competes with Japan’s Bitflyer for the title of the world’s largest bitcoin exchange by volume. On August Nineteen, Bithumbs daily trading volume surpassed the volume at leading Korean securities exchange Kosdaq.