Bithumb said to sell 50% stake to BK Global Consortium

South Korea-based Bithumb has reportedly sold a 50 per cent stake to BK Global Consortium.

The group, which is led by startup investor Kim Byung-gun, was already an investor in the company and was the fifth largest in the company, according to a report by Bloomberg.

Bithumb is a cryptocurrency exchange which provides consumers to buy and sell a wide variety of cryptocurrencies. Some of the tokens supported include: Bitcoin, Ethereum, Dash, Litecoin, Ripple, Monero, Ethos, 0x, TrueChain, Qtum, Theta Token, CyberMiles and Stratis, among a number of others.

The company also offers an online and offline payments and remittance service for cryptocurrencies. Bithumb CASH creates a barcode or QR code for transactions with cryptocurrencies which can be scanned at stores – payments can also be completed on e-commerce websites.

Earlier in the year, Fellow South Korean FinTech company Viva Republica closed a $40m round of funding, which was led by GIC and Sequoia China. Viva is the developer of financial services app Toss, a P2P money transfer service which has around eight million registered users.

Cryptocurrency exchange platform Seed CX closed a Series B round last month on $15m. The equity was raised to expand the physical trading infrastructure and its trading group network.

Copyright © 2018 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.