Chinese gaming mogul Tencent Holdings is reportedly weighing in a bid for the holding of a company which controls the South Korean gaming company Nexon. The latter, on the other hand, owns cryptocurrency exchanges Bitstamp and Korbit.

Potential $8.9 Billion Deal

Chinese gaming giant Tencent is considering to participate in the buying of NXC Corp – a company controlling South Korea’s Nexon – the owner of Bitstamp and Korbit, Reuters reports.

According to the reports, the founder of Nexon, Kim Jung-ju, is planning to sell 98.64 percent of the stake in Nexon’s holding company – NXC Corp. This stake in the company is reportedly worth somewhere between $7.1 billion and $8.9 billion and Tencent is looking to enlist co-investors.

Sources familiar with the matter have said that the deal is run by Morgan Stanley and Deutsche Bank.

Tencent and the Cryptocurrency Industry

Interestingly enough, this might be one of the first forays of Tencent into the field of cryptocurrencies.

Nexon has developed more than 80 live games spread across 190 different countries, but it also owns cryptocurrency exchange Bitstamp and Korbit. The company acquired Bitstamp in October 2018.

Before that, however, Tencent has kept a rather distant position on the matter of cryptocurrencies and the blockchain industry in general.

The company was reported to take part in the IPO of mining giant Bitmain in 2018. However, these rumors were quickly dismissed.

Do you think Tencent would acquire Nexon for the ownership of cryptocurrency exchanges? Let us know in the comments below!

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