Kakao Piccoma acquires a 50% stake in Sakura Exchange.

  • Sakura Exchange Bitcoin has been bought by Kakao Piccoma for a 50% controlling share (SEBC).
  • As a result of the acquisition, Kakao is now the company’s largest shareholder.
  • The agreement will allow Kakao to offer bitcoin services on its Piccoma webtoon platform, as well as aggressively expand into Web3.

Kakao Piccoma, a Japanese digital comics subscription service and a subsidiary of the Korean internet corporation Kakao, has acquired a 50% controlling share in Sakura Exchange Bitcoin (SEBC), a Japanese cryptocurrency exchange. The sum paid by Kakao for its interest in the exchange has not been disclosed.

As a result of the acquisition, Kakao has become the company’s largest shareholder. According to local media, the agreement would allow Kakao to provide bitcoin services on its Piccoma webtoon platform.

as well as rapidly expanding towards Web3.

Kim Beom-soo, the creator of Kakao, stood down from the board of directors in mid-March. His motivation was to focus on the company’s affiliate brands, one of which was the Kakao Piccoma brand in Japan. Kakao’s acquisition of SEBC was the company’s first merger acquisition manoeuvre after the founder quit.

Prior to this acquisition, Kakao demonstrated interest in the bitcoin area by launching two blockchain startups in Singapore in August of last year. Kakao founded two companies: the Klaytn Foundation, a non-profit organisation, and Krust, a worldwide accelerator for blockchain technology adoption.

As part of Kakao’s blockchain interest, the company runs a blockchain subsidiary called Ground X, which won a tender from the Bank of Korea in July last year relating to the development of a central bank digital currency (CBDC) (CBDC). This made Ground X the leading technology supplier for blockchain-based digital win simulations.

Kakao was also an early investor in the Upbit exchange platform, the first cryptocurrency exchange to register with South Korean financial regulators.

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