News reaching us today states that BK Global Consortium has successfully purchased 50% stake of the South-Korean cryptocurrency exchange, Bithumb. The deal brought about a disagreed number of views with both critics and optimists giving legal points to why the deal with BK Global Consortium won’t/will work.
Inorder to gain the trust of their clients, this exchange has moved from a profit-maximizing entity to a more security driven exchange, definitely having in mind to overshadow its local competitors such as Upbit and Korbit as well as its international rivals, Binance and coinbase.
BK Global Consortium, a subsidiary of Singapore-based BK Medical Group, secured the deal with South Korea’s largest digital asset trading platform on October 12, 2018, with Kim Byung-gun, a noticeable plastic surgeon and blockchain investor playing a crucial role in bringing the deal to a close.
It is however worthy for us to note that Bithumb is not the only exchange that has been purchased by a large corporation.
Other exchanges like Upbit, Gopax and Korbit has Kakao, Shinhan commercial bank and Nexon respectively, as their major stakeholders.