After such a long wait, the users and followers of the Coinone Exchange have earned a breather. Coinone is one of the major cryptocurrency exchanges based in South Korea and for some time, it had been having a bumpy ride.
The CEO of Coinone Exchange had found himself in one of the worst spots when he was faced with an allegation. The CEO of Coinone Exchange was put on trial over allegations of him being involved in gambling activities.
However, exciting news has been shared by the local media sources around the recent developments at Coinone exchange. The sources have revealed that Coinone exchange recently had a company named Gamemaker take a lot of interest in its services and activities.
Therefore, Gamemaker has gone ahead and has acquired a small stake at the Coinone exchange. Another great news for the users and fans of the exchange is that the Coinone CEO has recently been relieved of the gambling allegations.
After such a long bumpy ride, the Coinone exchange is finally on a clear road and has received the best reward and boost from one of the gaming giants.
Previously, it was reported that three different gaming firms had shown interest in acquiring a stake in a major cryptocurrency exchange in South Korea, Bithumb. However, the reports/rumors never materialized and nothing really came out of them.
On the other hand, Gamevil, which is a major mobile game developer in South Korea, has shocked the entire cryptocurrency community. The firm has taken the entire spotlight for itself by making an investment in Coinone exchange.
Gamevil is one of the top game developing companies in South Korea that focuses on developing most of the games on mobile platforms. The company has even gained a lot of recognition and popularity all over the world for its unique and entertaining games.
Furthermore, the company is also publicly listed and is currently listed on the KOSDAQ exchange in South Korea.
The sources have confirmed that the deal between Gamevil and Coinone exchange has already been struck. In order to finalize the deal, Gamevil has made an investment and acquired 13% shares of the exchange. According to the inside sources, Gamevil has invested around $28-$29 million in order to finalize the deal.
One of the representatives from the financial regulatory office has confirmed that the process of transactions between the firms has already been initiated.
The process of the completion of transactions for 13% acquisition of Coinone exchange’s shares would take place until June 2021.
The representatives of both companies have shared their views about the recent partnership. They have stated that the companies hope the new partnership would go a long way. Both companies will have the opportunity of learning from each other and introduce combined products to the fans in the coming years.