SK Square acquired 35% stake in Korbit for $ 75.5 million

SK Square, a venture capital firm affiliated with SK Telecom, announced on the 29th that it will spend 90 billion won to acquire a 35% stake in Korbit, one of the four major cryptocurrency exchanges. He became the second largest shareholder in Korea. The main shareholder of Korbit is NXC, the holding company of Nexon. With this investment, SK Square announced that it will update the company and Korbit services to provide more accurate and reliable investment information and a secure copy of the company across multiple virtual assets. SK Square will launch SK Ipland's meta-universe platform and Korbit Korbit Town social platform so that iPland users can easily buy or trade crypto assets. On the same day, SK Square also invested 8 billion won in Onmind, a 3D digital video production company developed by Kakao, to acquire a 40% stake in forming a joint venture with iPland. SK Square said the investment is about building a blockchain and meta-space ecosystem. (Korea Herald)