Disney Might Get A Stake In Crypto With This $13.2B Deal

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2 major cryptocurrency exchanges, Bitstamp and Korbit, may soon be owned by Walt Disney Corp, the world’s biggest media corporation, if a $13 billion equity deal goes through. This is according to a report from South Korean news outlet, The Korea Herald on April 17.

Per the report, Jung-ju Kim, chairman of the online gaming giant NXC Corporation, plans to sell his 98.6% stake in the company, and Disney is one of the major bidders.

This is of importance because NXC owns 47% of South Korea’s largest game developer, Nexon, which holds a 47% stake in Bitstamp – the world’s oldest cryptocurrency exchange – and a 60% stake in Korbit – one of the biggest cryptocurrency exchanges in South Korea.

Rumors of a Done Deal

As reported, a source familiar with the matter said that Disney is already the preferred buyer. This makes sense, seeing as Disney has a special place in Jung-ju’s heart, according to the Korean news publication.

As for other buyers interested in NXC, the Chinese internet giant Tencent and South Korea’s Kakao Corp are purportedly interested as well. The $13 billion deal would give Disney or any of these other companies a significant foothold in the cryptocurrency exchange industry.

However, regarding the deal, neither Nexon or the exchanges have publicly announced a final decision, or have commented on the press rumors.

Do you think Disney wants to dip its toe into the cryptocurrency industry with this deal? Or is it solely for NXC and Nexon’s ties in the gaming industry? Let us know what you think in the comment section below.

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