Disney may purchase cryptocurrency exchange owner NXC

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Disney may purchase cryptocurrency exchange owner NXC
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NXC, the parent company of Nexon game developers in South Korea, may be under the Disney branding soon.

Moving toward the future

According to dailyhodl, Disney has allegedly been offered a big stake in NXC, who owns two Bitcoin exchanges, Bitstamp and Korbit.

Bitstamp is based in Luxembourg is the oldest cryptocurrency platform, having started in 2011. Korbit is in South Korea, and was the first crypto exchange to convert Bitcoin and Korean won.

Jung-ju Kim, the chairman of NXC, reportedly spoke to Disney about selling his stock to them. Kim owns 98.64% of NXC with his wife, and that translates to 47.02% of Nexon.

Kim has been trying to sell his stock since early this year. He has until May 15th for the final bids to take place.

A questionable interest

Of course, it’s more than likely that Disney isn’t very interested in the crypto exchanges. However, the acquisition would do wonders for Disney stock. NXC Corp and Nexon are some of the biggest entertainment businesses in South Korea. While Disney may not need it, these purchases would help expansion over there.

Also, one should note that Disney has expressed interest in digital assets beforehand. A couple of years ago, the company had a hand in the creation of Dragonchain (DRGN), a blockchain as a service platform for enterprise. Regardless, it will be a part of their acquisition if Disney follows through. NXC bought BitStamp for around $400 million late last year, according to SiliconAngle.

Moreover, on April 17th, a piece from The Korea Herald noted that the price of Kim’s stock will likely cost around $13.2 billion (15 trillion won). Others interested in the purchase are Kako, Tencent, and Netmarble, among others.

Kim commented on Disney and why he considers them:

“What I envy the most about Disney is that they do not force money out of kids … (consumers) gladly pay Disney. Nexon has a long way to go. Some people hate Nexon to death.”

About Max Moeller

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Cryptocurrency and games writer. Looking to the future by studying how these two industries can blend. LinkedIn: https://www.linkedin.com/in/maxwell-moeller-912044b4/

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