Expands in South Korea Despite Market Rout


Digital Currency platform revealed acquisitions in South Korea, pushing in advance with expansion in a bet that digital currency and asset markets will recover from this year is rout.


The Cryptocurrency platform said on Monday that it had acquired South Korean payment service provider “PnLink Co.” and Digital Currency and Asset Exchange OK-BIT Co., securing registrations under the nation’s Electronic Financial Transaction Act (EFTA) and as a Digital Asset Service provider.


Also Read: Crypto Exchange Huobi Now Able To Operate In Australia


The statement did not reveal the size of the deals or whether Singapore-based faces any other obstacles to be able to offer a full suite of services in South Korea. 



“We are trying to be able to bring some of our products and services offerings to the South Korean market, and also work with partners in the region that are at the forefront of gaming and entertainment,” Chief Operating Officer Eric Anziani said in an interview.


Also Read: Crypto Firm Chiliz Gets $100M Stake In FC Barcelona Is Digital Studio


South Korea is prized by Digital Asset firms because of comparatively high levels of Cryptocurrency adoption. But retail investor faith in the sector was badly shaken by the $40 billion wipeout in the Terraform Labs ecosystem, including the disentanglement of the TerraUSD stablecoin.


The collapse and other leveraged blowups contributed to this year is more than 50% slump in the top 100 virtual coins. The Cryptocurrency industry is only just beginning to pick up the pieces of the punishing shakeout.


Also Read: Celsius Withdraws Motion To Hire CFO Back At $92,000 Per Month said in June that it had received in-principal approval from the Monetary Authority of Singapore (MAS) to provide Digital Payment token services in the city-state.


Leave a Comment


CryptoHelpExchange disclaims all liability for any mistakes on this website (including omissions or inaccurate material). Even if they are the consequence of mistakes, CryptoHelpExchange disclaims all liability for any trading or investment losses caused by visitors.

Without the express consent of CryptoHelpExchange, no part of the written information on this website may be duplicated. If it is discovered that material is being copied without CryptoHelpExchange's consent, that organization will pursue legal action against those responsible to the fullest extent permitted by the law. The aforementioned rule does not apply to any RSS feeds that CryptoHelpExchange offers or situations where explicit permission from CryptoHelpExchange was given.

Your single and only option if you disagree with any of the terms as stated above is to stop using CryptoHelpExchange.