An equity battle involving a South Korean gaming giant could end up with Walt Disney Co. owning two major cryptocurrency exchanges.
Happy Ending For Disney And Crypto?
As local news outlet JoongAng Ilbo reported quoted by Korea Herald April 17, Disney is currently one of the major bidders for a 98.6 percent stake in Nexon, South Korea’s largest game developer and the second-largest online games publisher in the world.
Nexon is 47 percent owned by NXC, the chairman of which, Jung-ju Kim, is behind the shares sale.
According to JoongAng Ilbo, various major entities had taken an interest in the stake. These include Tencent and Kakao, both of which are currently pursuing cryptocurrency-related projects of their own.
Disney, however, is allegedly first in line, with Kim personally reaching out to the US corporation.
Should the $13.2 billion deal go ahead, however, Disney will have access to European exchange Bitstamp via NXC’s investment structure NXMH, which purchased it for around $400 million in late 2018.