• Thu, 27 Jun 2019, 06:04 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Japan’s ST Blockchain Fund invests $200M in Bithumb’s parent company’s Series A round

Image: Bithumb (via Twitter)

Mon, 15 Apr 2019, 11:53 am UTC

Japan’s ST Blockchain Fund has invested $200 million in the Series A round of Blockchain Exchange Alliance (BXA), the parent company of South Korean cryptocurrency exchange Bithumb, Cointelegraph reported.

Earlier this year, Bithumb signed a binding letter-of-intent agreement to merge with investment and advisory firm Blockchain Industries and announced plans to take a new name “Blockchain Exchange Alliance’. According to the details on BnkToTheFuture, Bithumb created BXA, which now holds 38.7% of the company and operates the Bithumb exchange.

BXA plans to use the fresh funding to expand the international side of Bithumb, which is planning to add new trading pairs on its platform.

Based in Japan, ST Blockchain Fund features participation from investors around the globe, including Europe and the United States.

“The fund shared our vision of creating a global digital exchange platform that can efficiently transfer value across borders with lower costs, which was the key rationale behind this investment decision,” BXA said.

Bithumb recently suffered a major hack in which it lost approximately $13 million in EOS and suspected it to be an insider job. Soon after, it released results of a third-party public audit, reassuring investors that their funds were in secure storage.

The company’s annual losses for the year 2018 stood at around $180 million.

Last year, BK Consortium signed a deal to acquire Bithumb for 400 billion won (approximately $350 million). Recent reports suggest that BK Consortium has delayed the payment for the acquisition – having paid only about $20 million of the total amount to date.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $12,845.30 (+2.05%)
  • Ethereum (ETH) $333.60 (+0.37%)
  • XRP (XRP) $0.461100 (-3.00%)
  • Bitcoin Cash (BCH) $476.49 (-2.57%)
  • Litecoin (LTC) $128.46 (-5.23%)
  • Bitcoin (BTC) $12,845.30 (+2.05%)
Jun 27, 2019 (Thursday)
05:13
CoinMarketCap acquires Hashtag Capital to enhance crypto data offering
04:20
Blockchain startup dfuse raises $3.5M, led by Multicoin Capital and Intel Capital
03:41
CZ: 'the future is here' as Binance transfers $1.2B in BNB in 1 second for $0.01
03:37
Square rolls out bitcoin deposits for all Cash App users
Jun 26, 2019 (Wednesday)
12:45
Opera launches blockchain-ready browser for iOS
12:16
Crypto Technicals: ETH/USD hits new 10-month highs at 340, eyes 396 (23.6% Fib)
11:14
Northern Trust hands over private equity blockchain technology platform to Broadridge
10:06
Amun launches new ETP using Bitwise 10 Select Large Cap Crypto Index
09:08
Startup Lolli partners with Hotels.com to reward travelers with bitcoin
09:04
SWIFT to give blockchain-based firms access to its GPI payments
08:52
Germany's CDU and CSU Union wants to incorporate blockchain in public services
07:46
Crypto firm LedgerX obtains CFTC approval for physically-settled derivatives contracts
07:45
Crypto Technicals: XMR/USD fails to track gains in Bitcoin, slips below 100, bias turning bearish
06:54
EY to utilize Guardtime’s blockchain, Sensyne Health’s AI for outcome-based health payments
06:35
Q2 Solutions, HSBlox, and R3 successfully conduct proof-of-concept blockchain application in clinical research
06:20
TP ICAP enters crypto business to trade bitcoin futures
06:04
Israeli brothers arrested for 2016 Bitfinex hack, global retrieval effort underway
05:32
Paysend acquires blockchain firm Rapid SD following stablecoin launch
05:31
Crypto Technicals: Bitcoin takes out $12,000 mark, bulls eye 61.8% Fib at $13,488
05:08
New partnership provides $100M insurance for crypto retirement plans
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft