Tencent Bid To Expand Gaming Outside China And Gain Foothold In Cryptocurrency Industry
Tencent Mulling Bid for Owner of Bitstamp & Korbit Reuters reports that Tencent is actively pursuing co-investors to purchase the South Korea-based NXC Corp, the company behind gaming firm Nexon. Kim Jung-ju reportedly wants to sell a 98.64 percent share in the company that he co-founded in 1994. That stake, which is held by Kim and his wife, is worth an estimated $7.1 billion to $8.9 billion. Though best known for its gaming empire, NXC owns multiple cryptocurrency exchanges. In late 2017, the firm acquired a majority stake in Korbit — then South Korea’s…