BK Global Consortium becomes major shareholder in Bithumb

Posted 12 October, 2018

The major crypto trading platform in South Korea – Bithumb – reportedly sold 38% stake to Singapore's BK Global Consortium, the investment division of BK Global holding.

The companies signed the agreement on Thursday, October 11, as Bithumb representative confirmed. Under the contract, BTC Holdings Company (76% interest in Bithumb) sells 50%+1 share in the platform to investment blockchain division of BK Global, BK Global Consortium. As a result, BK Global will become the major shareholder of the South Korean crypto exchange.

For reference, BK Global Consortium is an investment blockchain division of BK Global, the medical holding in plastical surgery sector. Notably, the holding's chairman Kim Byung Gun is among the early investors in the crypto segment. Specifically, he run an ICO consulting business in Singapore.

According to the available data, the contract cost amounts to some $880 million (JPY 1 trillion).

It is worht mentioning that Bithumb released its H1 2018 financial report lately. According to the data, the net income amounted to $35 million and that given the recent $40 million hacks that hit the platform in June.

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12 October, 2018 12:39

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US stock market slump pushes dollar down →

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US stock market slump pushes dollar down
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