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.