Nexon Korea CEO Says No Bitstamp Deal in the Works

Nexon Korea’s CEO has denied rumors that his video game company is about to buy the oldest crypto exchange still in operation, Bistamp.

Nexon Korea CEO Lee Jung-hun said on Wednesday there was no truth whatsoever in the rumors that his company was negotiating the purchase of crypto exchange Bitstamp, according to Korea Herald.

The statement came after a report that the Slovenian company, which is the oldest Bitcoin exchange still in business, was about to be acquired by the South Korean video game company for about $350 million. However, Lee dismissed as false the information provided by anonymous sources to Business Insider.

“Nexon Korea does not have anything to do with a Bitstamp acquisition,” Lee told reporters at a press conference in the company’s headquarters in Pangyo.

“We do not have any plans to link cryptocurrencies with our game business,” he added.

However, he insisted it did not mean Nexon would ignore the use of blockchain in video game development as the technology has plenty of potential in this area.

It seems that Nexon’s CEO was quite clear about his company’s position and there would not be a repeat of the recent situation with Yahoo Japan. Last month, BitARG Exchange Tokyo executive Yoon Hee Yuan denied rumors that Yahoo Japan was about to acquire a 40% stake. However, Yahoo Japan officially announced in mid-April that it would invest in BitARG, buying no more and no less than 40% of the shares.

NXC Corp, the parent company of Nexon, is the owner of Korbit, South Korea’s second largest crypto exchange. In 2017, NXC bought a 65.19% stake in Korbit for about $84.5 million. Thus, if Nexon does not have any plans in the cryptocurrency space, as the CEO claims, its parent company might be interested.