South Korea-based Bithumb has reportedly sold a 50 per cent stake to BK Global Consortium.
The group, which is led by startup investor Kim Byung-gun, was already an investor in the company and was the fifth largest in the company, according to a report by Bloomberg.
Bithumb is a cryptocurrency exchange which provides consumers to buy and sell a wide variety of cryptocurrencies. Some of the tokens supported include: Bitcoin, Ethereum, Dash, Litecoin, Ripple, Monero, Ethos, 0x, TrueChain, Qtum, Theta Token, CyberMiles and Stratis, among a number of others.
The company also offers an online and offline payments and remittance service for cryptocurrencies. Bithumb CASH creates a barcode or QR code for transactions with cryptocurrencies which can be scanned at stores – payments can also be completed on e-commerce websites.
Earlier in the year, Fellow South Korean FinTech company Viva Republica closed a $40m round of funding, which was led by GIC and Sequoia China. Viva is the developer of financial services app Toss, a P2P money transfer service which has around eight million registered users.
Cryptocurrency exchange platform Seed CX closed a Series B round last month on $15m. The equity was raised to expand the physical trading infrastructure and its trading group network.
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