South Korean cryptocurrency exchange Bithumb has received $200m funding from Japanase ST Blockchain Fund the later has shared in a press release with cointelegraph.
The fund which will allow Blockchain Exchange Alliance (BXA) expand the international side of Bithumb -one of the biggest exchanges in South Korea.
New trading pairs is going to be listed according to the press release from the ST Blockchain Fund which features partiticpation from investors from around the world include US and Europe.
“The fund shared our vision of creating a global digital exchange platform that can efficiently transfer value across borders with lower costs, which was the key rationale behind this investment decision,” Blockchain Exchange Alliance stated in the press release.
Bithumb which suffers losses to the tune of $13million recently (late last month) in what executives said was an insider efforts at defraud the company. Bithumb has release a third party audit report to assure investors of the security of their investment.
With this new inflow of fund ST Blockchain Fund has removed any doubt in their faith in the local market as north heading prices of Bitcoin has sparked new interest in the South Korean Consumers