Omise Denies OmiseGo Acquisition by Thailand’s Richest Company for $150 Million

Hasegawa Jun, the founder of Omise, the company behind OmiseGo (OMG), has recently denied reports suggesting that Thailand’s richest company, the Charoen Pokphand Group (CP Group), acquired it for $150 million.

The reports came from crypto news outlet TheBlock, which claimed the CP Group, owned by the Chearavanont family, which was ranked by Forbes Asia as one of the wealthiest families in the world with a net worth of $36.6 billion, made the move as part of a “concerted effort to take over companies that could use crypto for payments.”

Per Cointelegraph, Jun denied the acquisition occurred, and claimed to have reached out to TheBlock asking for the story to be removed, and for an apology to be issued. The rumor, the news outlet reports, is believed to have the potential to affect Omise Holdings and its subsidiaries, as well as the firm rumored to have carried out the acquisition.

Furthermore, Jun is reportedly considering legal action against TheBlock if it doesn’t respond by March 30 and complies with its requests, according to Cointelegraph. Omise is notably one of Thailand’s leading payments services providers, operating also in Singapore, Japan, and Indonesia.

OmiseGo has back in 2017 capped a token sale at $25 million to build a peer-to-peer payment platform, raising funds through the sale of its OMG token. It’s currently one of the largest cryptocurrency by market cap and it’s at press time up by 4.35%, according to CryptoCompare data.

OmiseGo's price performance in the last 24-hour period

OmiseGo launched its first decentralized application (dApp) back in November of last year. As reported, the network itself aims to “enable financial inclusion” via interoperable, open-source blockchain networks.