Nexon Acquires Virtual Currency Exchange ‘Korbit’

Nexon, a Korea-based gaming company, will acquire Korbit, one of Korea’s three major virtual currency exchanges.

Nexon’s holding company, NXC, publicly announced on September 26 that it plans to acquire 125,000 shares of the information services company for 91.25 billion won (approximately US$80.3 million).

After the acquisition, Nexon will own a 65.19% stake (a total of 136,228 shares) in Korbit.

The company explained, “NXC has been looking into investing in innovative digital ideas and tech startups,” adding, “The acquisition of Korbit was pushed through while keeping the possibility of virtual currency industry growing in mind.”