Kakao Piccoma bought a 50% stake in Sakura Exchange.

Sakura Exchange Bitcoin (SEBC), a Japanese cryptocurrency exchange, has been bought by Kakao Piccoma, a subsidiary of the Korean internet company Kakao. This means that Kakao Piccoma now owns 50% of SEBC. The price that Kakao paid for its stake in the exchange hasn’t been made public.

Purchase: Kakao now owns the most shares. Reports from local media say that Kakao will be able to use the deal to offer cryptocurrency services on its Piccoma webtoon platform, as well as to aggressively enter Web3.

It was Kim Beom-Soo, the founder of Kakao, who stepped down from the board of directors in mid-March. Among the affiliate brands of the company was one called Kakao Piccoma in Japan, which he wanted to pay more attention to. After Kakao’s founder resigned, the company bought SEBC for the first time since then.

As of August last year, Kakao started two blockchain businesses in Singapore, and this purchase is the company’s third in the cryptocurrency space. A non-profit called the Klaytn Foundation and a global accelerator for blockchain technology adoption are two of the businesses that Kakao started, but they’re not the only ones.

On behalf of a company called Ground X, Kakao is interested in blockchain technology. In July last year, the Bank of Korea asked for proposals for the development of a digital currency that could be used by the government. Ground X won the tender (CBDC). This made Ground X the main source of technology for blockchain-based digital currency simulations, making them the most important source of technology.

When the Upbit exchange platform was first approved by South Korea’s financial regulators, Kakao was one of its early investors. Upbit was also the first cryptocurrency exchange to do so.

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