The Kakao Group and Netmarble are now at the forefront of potential buyers of Nexon (NXC), a digital empire that encompasses two premier cryptocurrency exchanges – Bitstamp and Korbit. Tencent also remains a key competitor.
Aside from Bitstamp and Korbit, Nexon also includes brands devoted to babycare and gaming. It’s vast holdings is reason enough for NXC’s alleged asking price of $8.8 billion.
Tencent, Netmarble, and the Kakao Group have been leading the charge of interested bidders ever since news first emerged that Nexon was on the market. The winner of the NXC race will be a major player in the dynamic crypto market.
If Kakao successfully closes the deal, it will be at the forefront of a massive blockchain and cryptocurrency network. The South Korean conglomerate has already invested heavily in Dunamu, Upbit’s operator. The company also manages Ground X, it’s very own blockchain company. There have been rumors that Kakao is also considering launching its own token to support Kakao Pay.
Meanwhile, Netmarble has been a strong voice of the cryptocurrency and blockchain movement. There has also been whispers of a Netmarble Coin being developed.
Interestingly, Korbit has already shut down its business group in the United States. While the company planned on penetrating North America’s crypto space, the extended bear market and shrinking niche has caused it to abandon its plans.
An NXC insider revealed that while the company stands by the decision to shut down its American arm, there are no plans to sell Korbit.
Bitstamp is faring better though, with it securing a BitLicense permit from New York’s Department of Financial Services. This allows the company to buy, sell and trade Bitcoins and altcoins.