Gaming Company Nexon Close to Acquiring Bitstamp

nexon acquires bitstamp

[Update] Nexon has refuted the claims, saying they "do not have any plans to link cryptocurrencies with our game business.” However, their denying of the claims does not mean an acquisition may be negotiated behind the scenes.

[Original Story] Bitstamp, the oldest running bitcoin exchange, has been put up for sale, with a South Korean gaming company being pegged as the potential buyer, according to a new report from Business Insider.

The report states that out of three separate sources familiar with Bitstamp being put on the market, two individuals claim that the sale is close to being finalized, with Bitstamp to be acquired by Nexon, a South Korean gaming company known for their mobile, console, and web-based video games. The sale price is said to be around $350 million.

According to the sources familiar with the matter, Bitstamp had a prior buyer interested but the deal fell through, warning that the Nexon deal could share a similar fate.

Business Insider reached out to a spokesperson from Nexon, which is now headquartered in Japan, who refused to confirm or deny the report. A spokesperson for Bitstamp, however, appeared to have more to say, suggesting to “keep an eye out for any official statement from our side on the topic of your inquiry.”

Bitstamp is currently the only licensed cryptocurrency exchange in Europe. It was founded in 2011, has 3 million registered users and 500K active trading accounts, making it an attractive investment. 

Nexon Group is a popular video game developer and publisher, releasing major games like FIFA Online and CounterStrike Online in Japan and South Korea. It is not clear why Nexon is interested in a cryptocurrency exchange, but given the rapid growth of the cryptocurrency space, the investment should be lucrative regardless.