BitMex and Madison to become majority shareholders of Japan-based BitOcean platform

Posted 27 December, 2018

BitMex and Madison Holdings Group are said to acquire the controlling stake in the Japan-based BitOcean trading platform.

According to the local media, Madison Holdings Group plans to buy 62,7% interest in the Japanese licensed exchange for JPY 1.68 billion ($15.2 million) and pay all expenses worth extra $15 million.

Meanwhile, BitMEx run by HDR Global Trading is about to acquire the active interest (51% stake) in the French wine company Madison via its branch HDR Cadenza Management. After all these deals, BitMex will become the partner and majority shareholder of the Madison crypto business.

The subject of the agreements is the Japanese trading platform that has got the required a license for exchange activities. However, BitOcean is yet to commence trading. The fact that the platform has the corresponding license was among the key drivers while selecting the exchange. This opinion was confirmed by the head of Madison company.

Madison Holding Group is one of the largest wine companies worth $534 million. As the company commented, the decision to expand to the crypto market is related to their intentions to diversify the business given stable and profitable positions in the wine sector. With the growing popularity of the cryptos and blockchain, the company sees a good chance for more profit.

Previous story

28 December, 2018 13:00

← National Bank of Kuwait implements money transfers via Ripple network

The National Bank of Kuwait keeps maintaining its strong positions and announced implementation of the advanced Ripple technologies to make international money transfers faster. It will become the first institution in the country's financial sector that will start offering NBK Direct Remit for fast cross-border payments based on the Ripple blockchain solution. The service reportedly allows money transfers to Jordan, though expansion of the geography is planned in the long run.

National Bank of Kuwait implements money transfers via Ripple network

Next story

27 December, 2018 12:01

Cryptos legalisation under consideration in India →

Cryptocurrencies have got a chance for legalization in India, though with certain limits for the sector. During the meeting of the special crypto committee, one of the officials stated that following several discussions it had been agreed that the country might not completely outlaw the cryptos, but to accept virtual currencies with heavy supervision. As he added, this issue remains subject to further talks.

Cryptos legalisation under consideration in India
Write a comment
Prove you’re not a bot + 7 = 17