South Korean internet giant Naver reportedly joins Bithumb stake race

Major South Korean internet firm Naver has reportedly begun negotiations to amass a stake within the nation’s largest cryptocurrency alternate, Bithumb.

Naver has mentioned a possible fairness stake acquisition with main Bithumb stakeholder Vidente, native publication the Maeil Business Newspaper reported Monday, citing a number of unnamed sources.

Naver is the supplier of South Korea’s largest search engine and Line messenger, and is reportedly searching for to broaden its platform’s presence within the nation’s fintech market. The internet giant is reportedly planning so as to add Bitcoin (BTC) as a fee possibility on its fee companies Naver Pay in addition to Line Pay in Japan and the United States.

As reported, there are no less than 10 corporations searching for a stake in Bithumb together with main U.S. funding banks like Morgan Stanley and JPMorgan, fee giant Visa, in addition to the world’s largest crypto alternate, Binance. According to a report by The Korea Times, Deutsche Bank can be amongst potential buyers.

Bithumb has been the topic of a number of stories and rumors relating to a possible acquisition deal over the previous a number of years. The South Korean crypto giant has reportedly been negotiating the sale with foreign companies since no less than 2019, following alleged difficulties with funds in Bithumb’s earlier acquisition offers. Gaming conglomerate Nexon denied reports that it was acquiring a stake within the alternate.

Naver didn’t instantly reply to Cointelegraph’s request for remark.
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