Gaming Company Nexon Denies $350 Million Bitstamp Acquisition

Francisco Memoria
  • Gaming company Nexon Korea recently denied it's in alks to acquire cryptocurrency exchange Bitstamp.
  • Rumors of the acquisition first appeared after reports cited people familiar with the matter, who claimed the deal would go for $350 million.

South Korean gaming company Nexon Korea recently denied it was in talks to buy Luxemburg-based cryptocurrency exchange Bitstamp for $350 million, according to local news outlet The Korean Herald.

The gaming company’s CEO, Lee Jung-hun, stated at a press conference in Nexon’s headquarters that the company wasn’t looking to acquire the exchange. He was quoted as saying:

“Nexon Korea does not have anything to do with a Bitstamp acquisition. We do not have any plans to link cryptocurrencies with our games business.”

Lee Jung-hun

It’s worth noting Nexon was established in Seoul back in 1995, and is listed on the Tokyo Stock Exchange with a market capitalization of 1.3 trillion yen ($12.7 billion). Its parent company, NXC Corp., has acquired a majority stake in South Korean exchange Korbit last year.

Rumors Nexon was going to purchase Bitstamp started after Business Insider published a report citing people familiar with the matter, that didn’t want to be named because they weren’t authorized to discuss the deal.

Per Business Insider’s sources, the situation was fluid and the deal could fail to materialize. When reached out to, Nexon claimed it could “neither confirm nor deny” the report, while a Bitstamp spokesperson stated he or she wasn’t in a position to comment the matter.

During the press conference, Nexon’s CEO added that the company does see potential in blockchain technology, as it can be used in game development. While Nexon itself may not be behind the deal, it’s still possible its parent company may be looking to acquire Bitstamp.

Bitstamp is considered to be the longest surviving cryptocurrency exchange to date. Founded in 2011, Bitstamp has been through various noteworthy events – including getting hacked – but is still active. At press time, over $300 million were traded on it in the last 24-hour period.

Switzerland's Largest Online Retailer is Now Accepting Cryptocurrency Payments

Digitec-Galaxus, Switzerland’s largest online retail company, has reportedly decided to start accepting bitcoin (BTC) payments.

Digitec and Galaxus customers can now pay for goods and services with bitcoin and a few other major cryptocurrencies. In addition to BTC, users can make payments in XRP, ETH, Litecoin (LTC), Tron (TRX), OmiseGo (OMG), and NEO.

Digitec and Galaxus’ online retail outlets will also be taking payments in Bitcoin “Satoshi Vision” SV (BSV), Bitcoin Cash (BCH), and Binance Coin (BNB). Commenting on the Swiss retailer’s decision to start accepting cryptos, Oliver Herren, the co-founder and CEO of Digitec, remarked: 

Cryptocurrencies are fascinating and could become a relevant means of payment in e-commerce. We would like to support this development. We wanted to do that for a long time.

Coinify Will Help Convert Crypto Transfers To Swiss Francs

Herren added that Digitec decided to take cryptocurrencies as payment because people may have invested in them and they may want to use them. “Or because you cannot turn them into real money [since] your bank does not accept it. Or maybe just because you ...  like to try new things,” Herren said.

According to Switzerland’s e-commerce giant, it wants to encourage millennials, who may be heavily invested in the blockchain space, to start using cryptocurrencies for practical purposes such as paying for everyday goods and services. Price volatility of cryptocurrencies may not be an issue as Digitec and Galaxus will immediately convert crypto payments to Swiss francs using Coinify’s services, a third-party payment processor.

At present, crypto payments are only available for Switzerland-based users, however the company has said that it might allow customers in other areas to pay with crypto if their initial effort is successful.

Danish Food Takeaway Outlet Accepts Bitcoin Payments For Its 1500 Restaurants

In December 2018, Hungry.dk, one of the largest online food portals in Denmark, started accepting Bitcoin again. The food takeaway company handles orders from more than 1,500 restaurants in Denmark and had been accepting BTC payments since 2014. However, it had decided to stop taking crypto payments in late 2017 due to very long transaction processing times.

A representative from Hungry.dk noted (last year): 

We have accepted Bitcoins as a payment method for quite some time. We decided to remove the feature temporarily last year though because the average transaction time took too long, and the experience wasn’t the best.