Earlier this year, Gamevil rival Nexon was said to acquire Bithumb, but the company later denied such reports. Bithumb has been looking for a buyer since 2018. Coinone is the third-largest crypto exchange in South Korea by trading volumes, after UPbit and Bithumb. As for Gamevil, it is one of the largest gaming companies in the country, having a market capitalization of around 355 billion won (around $320 million).
Related Reading With the investment, Gamevil looks to find new business opportunities in the crypto sector and increase corporate and shareholder value.
The News Highlights
- Korean listed company Gamevil to acquire $ 28 million stake in local Coinone crypto exchange
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