The South Korean gaming giant can buy Bithumba, one of the country’s largest cryptocurrency exchanges. According to reports from Chosun, WeMade, the company behind the Legend of Mir franchise, was the last to express interest in buying a stake in a cryptocurrency trading platform.
Will WeMade buy a cryptocurrency exchange?
Chosun reported that WeMade “Appeared like a black horse“In the race to buy Bithumba. The media quoted an anonymous whistleblower from the investment banking sector as saying “Foreign financial companies that have tried to take over [giełdę]they withdrew from the negotiations ”.
The portal says that its sources have confirmed that WeMade is looking at a number of alternatives that may include the purchase of shares in the main owner Lee Jung-hoon. Lee is said to want $ 628 million for the shares, but stakeholders seem ready to pay only about $ 448 million for the shares.
A company that enters the cryptocurrency market
While WeMade does not want to comment, something is happening. Its subsidiary WeMade Tree is reportedly considering launching a cryptocurrency trading platform. The company has also released a couple of game titles that use blockchain technology and that use digital currencies.
It is known that the WeMade Tree trading platform will act as a marketplace for players to buy and sell items in the game, including non-convertible tokens (NFT).
Chosun said that a stumbling block for the deal could be that Lee wants to make a cash sale, while WeMade does not have enough cash to make that happen. An anonymous insider from the industry said that WeMade could try to get around the problem by trying to organize a trading company.
It is worth adding that the competition over who should buy Bithumba has been going on for a long time. Previously, reference was made to Deutsche Bank, Visa, Binance and Naver in this context. In September last year, the auditing firm Samjong KPMG, a merger and acquisition advisor to Bithumba, confirmed to Cryptonews.com that the stock market was indeed for sale. The price can be impressive. It is proposed that the amounts be between 430 and 602 million dollars. According to some experts, the market value of the platform is much higher.
