The Walt Disney Company is one of the major bidders for a 98.6 percent stake in NXC. This is the parent company of game publisher and developer Nexon and crypto exchanges Korbit from South Korea and Bitstamp from Luxembourg. NXC chairman and billionaire Jung-ju Kim is selling his stake in the company. The final bid should take place on May 15th.
Reportedly the deal would costs Disney $13.2 billion. This will give them a 47 percent stake in Nexon, which has 65 percent stake in the Korean exchange Korbit. NXC itself has full ownership over Bitstamp, which recently got a license to conduct business in the State of New York.
Besides Disney there are other companies trying to get their hands on the shares. Chinese internet company Tencent is bidding as well, while Korean company Kakao is also interested. However, Jung-ju Kim approached The Walt Disney Company himself, which would signal that he has a clear preference.
This wouldn’t be Disney’s first steps into crypto though. In 2014 the company had an internal group working on Dragonchain, which became an open-source project two years later. The Dragonchain Foundation, a Non-Profit Corporation was created in January 2017 to maintain ownership and responsibility of the open source code.
Also published on Medium.