[2018-03-26]South Korea’s Largest Multi-Billion Dollar Conglomerates Enter The..

[Diced90]

South Korea’s Largest Multi-Billion Dollar Conglomerates Enter The Cryptocurrency Market

South Korea’s largest multi-billion dollar conglomerates in various sectors including insurance, telecommunications, gaming, and Internet are entering the cryptocurrency market by funding up-and-coming exchanges.

The country’s leading corporations have funded such exchanges as Korbit, Bithumb, and Upbit to be involved in the South Korean cryptocurrency exchange market, and be at the forefront of Blockchain development.

NHN and OKCoin
NHN Entertainment Corporation, better known as NHN, is a $1.2 bln company founded in 2013 which operated under the name Hangame Communications from 1999 to 2013. Alongside Nexon, NHN remains the largest gaming conglomerate in South Korea, with a market valuation of 1.29 trln Korean won.

On March 21, local cryptocurrency-focused media outlets reported that the NHN funded OKCoin  - formerly the biggest cryptocurrency exchange in China prior to the country’s cryptocurrency trading ban in 2017 - was to launch OKCoin Korea.
read more https://cointelegraph.com/news/south-koreas-largest-multi-billion-dollar-conglomerates-enter-the-cryptocurrency-market

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[bbc.reporter]

On the other side of the world, I reckon we would be seeing more mergers and acquisitions same as the Circle - Poloniex deal. There is another US based exchange out there that I would assume to be very ripe for acquisition. Bittrex.

If an online payments company like Paypal wanted to enter the cryptospace, then buying Bittrex or Kraken might be a good move in my opinion.

[jjacob]

Big market players entering the cryptospace, particularly investing in exchanges, is a positive. You don't need to take any risk related to cryptocurrency valuations while setting up an exchange. Big established conglomerates will be able to take advantage of their market reputation and attract customers as well.

[bbc.reporter]

@jjacob. Yes, yes and yes hehe. Circle - Poloniex is only the beginning.

But for the sake of discussion, what company, do you reckon, would be willing to acquire Bittrex? Would it be Coinbase or maybe a Chinese exchange thinking of expanding their operations in America?

[Duzter]

South Korea after the hard regulatory acts once again gaining good support from the country, but at the same time more negative news and regulations continue to take place with other countries around the globe. This lets the community to thrive hard to move forward reaching new ath. Possibly soon the price explosion to reach values higher than 15000 can be expected.