Disney May Acquire Bitcoin (BTC) and Crypto Exchange Owner NXC

by | Apr 23, 2019 | Cryptocurrency, Cryptocurrency News

Disney | Bitcoin | Crypto Exchange | NXC | Nixon

NXC, the parent company of South Korean video game publisher Nexon and two major cryptocurrency exchanges: Bitstamp, based in Luxembourg, and Korbit, based in South Korea has reportedly offered entertainment giant,  Disney a controlling stake in its firm.

As per a report by Korea Herald, Jung-ju Kim, a Billionaire and the chairman of NXC, had a meeting with a Disney representative, wherein NXC offered to sell his stake to Disney.

Jung-ju is reportedly is selling the 98.64% stake that he and his wife hold in NXC. He has been trying to sell his stake since January with final bids set to take place on May 15.

Jung-Ju elaborates over the decision:

“What I envy the most about Disney is that they do not force money out of kids … (consumers) gladly pay Disney. Nexon has a long way to go. Some people hate Nexon to death.”

Nexon

NXC owns 47.02% of Nexon, a video game publisher specialized in online games for PC and mobile. It is the world’s second-largest online games market and the biggest game developer in South Korea. As for its cryptocurrency exchange, Bitstamp was found in 2011 and has been the world’s longest-running Bitcoin exchange.

Nexon was founded in 1994 and specializes in online games, and is home to some of the world’s most popular titles including MapleStory and Dungeon Fighter Online.

Bitstamp

NXC subsidiary NXMH, a Belgian-based investment group, acquired Bitstamp, last year. The exchange is one of the largest Bitcoin and cryptocurrency exchanges by volume in the European Union. Bitstamp also supports major cryptocurrencies such as Bitcoin, Ethereum, Litecoin and XRP, and fiat-crypto pairs in US dollars and euro.

Currently, Bitstamp observes a 24-hour trading volume of $56.7 billion, according to data compiled by CoinMarketCap, with BTC/USD comprising 57.12% of its daily volume, valued at $32.4 billion. It is also amongst crypto research firm Messari’s “Real 10 Volumes”, wherein, Bitstamp is counted as one of 10 select crypto exchanges, along with Binance, Coinbase Pro, Kraken and Gemini, that are used to track what it considers to be legitimate volumes.

Korbit

NXC further owns a majority stake in rival crypto exchange Korbit through its subsidiary.  In 2017, Nexon acquired 65% of Korbit, the second largest cryptocurrency exchange in South Korea and the first Bitcoin exchange in the country.
 
At the time of writing, the daily trading volume of Korbit is roughly $9.8 billion. As per a Reuters report, NXC is also fielding bids from Chinese gaming giant Tencent, South Korean internet giant Kakao and a few private equity firms including Bain Capital, MBK Partners, and KKR.

Disney reported $59.4 billion in revenue in 2018 and acquired 21st Century Fox last month.

Read more: China Welcomes Its First Blockchain-Enabled Notary Opens Office In Beijing

Image source – Pixabay.com

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