Gaming giant Nexon in talks to acquire Bitstamp for $350M

350 Million Bitstamp Acquisition Negotiations Denied by Nexon CEO

NXC Corp., the parent company of Nexon, now owns Korea's second-largest cryptocurrency exchange Korbit.

"We do not have any plans to link cryptocurrencies with our game business", he said, adding that this does not mean Nexon is ruling out the use of blockchain in its game development efforts, as the distributed ledger technology has many potential applications to games.

"Nexon Korea does not have anything to do with a Bitstamp acquisition".

Founded in 2011 and its headquarters in Luxembourg, Bitstamp top the number spot of the world's oldest existing exchange past year after China-based BTCC stopped operating following a ban on all cryptocurrency exchanges. The three people familiar with this matter although refused to get identified sighting security concerns as they were not authorized to report about the deal.

Per the Korea Herald, Nexon has refuted the rumors regarding the company's interest in acquiring the Luxembourg-based crypto exchange.


Per Business Insider's sources, the situation was fluid and the deal could fail to materialize. When reached out to, Nexon claimed it could "neither confirm nor deny" the report, while a Bitstamp spokesperson stated he or she wasn't in a position to comment the matter.

On the other hand, the Nexon group was formed in 1995 and now specializes in designing mobile and PC games.

Nexon is a $13 billion gaming firm founded in 1995 and has developed the Japanese and Korean version of popular games including Counter-Strike and FIFA Online.

As CCN reported, the company purchased a controlling stake in South Korean cryptocurrency exchange Korbit last September at a $150 million valuation.

While talking to Business Insider, Bitstamp CEO Nejc Kodrič told that the exchange business has grown from just a few dozen people at the start, to having a staff of 200 people as of now. At the time, Korbit was South Korea's second-largest exchange, and the platform continues to post daily trading volumes of approximately $100 million.

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