Kakao Piccoma, a Japan-based provider of the facilities for digital subscriptions as well as a sub-branch of Kakao (an internet firm based in Korea), has bought half of the proportion of the controlling stake in SEBC (Sakura Exchange Bitcoin) – a crypto exchange in Japan.
In this way, Kakao turns into the biggest shareholder of the exchange, and the contract is additionally expected to assist Kakao to deliver crypto-related facilities on the Piccoma webtoon venue thereof along with broadening its scope across the Web3, as per the reports from the native media. Piccoma counts to be the biggest webtoon venue throughout Japan. In the previous year, the application thereof witnessed a significant upsurge in its customer expenditure following six years of its presence in the market in Japan.
At present, no disclosure has been made regarding the sum recompensed by Kakao for the stake thereof in the respective exchange. SEBC is considered to be the sole among the 30 exchanges of crypto assets having registration with the Japanese FSA (Financial Services Agency) and on-boarding 11 crypto tokens taking into account LTC (Litecoin), XRP (Ripple), ETH (Ether), and BTC (Bitcoin).
In the middle of this March, Kim Beom-soo – the founder of Kakao (also called Brian Kim) – left the board of directors to concentrate on the affiliate brands of the firm, particularly the Japanese Kakao Picoma brand. Following the resignation of Kim, SEBC’s acquisition marks the initial acquisition and merger move taken on the behalf of the platform
Even previously, keen interest has been expressed by Kakao in the world of cryptocurrency. In 2021’s August, a couple of blockchain-based firms were introduced by Kakao in Singapore named Krust (which is a worldwide accelerator for the adoption of blockchain technology) as well as the Klytn Foundation (a non-profit institution).
Apart from this, Kakao operates Ground X (a dedicated blockchain sub-branch) which earned a central bank digital currency (CBDC) tender in 2021’s July from the Korean central bank, turning it into the key tech supplier in terms of blockchain-based simulations of digital won. In this way, a substantial prestige has been occupied by the platform in the industry and the latest purchase elevates the respective status.
In advance of this, the venue additionally was termed as the initial company to invest in the exchange called Upbit, the earliest crypto exchange which has applied for registration with the financial regulators of South Korea.
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