S.Korean internet giant Kakao buys Japanese crypto exchange

South Korea’s Kakao to buy into Japanese crypto exchange

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Kakao Piccoma, the group’s Japanese digital-comics subsidiary, acquired a major stake in Sakura Exchange BitCoin (SEBC) as part of its global expansion.

See related article: Kakao Games rebrands subsidiary to focus on crypto, blockchain, Web 3.0

Fast facts

  • Kakao Piccoma bought out SEBC Holdings’ stake for an undisclosed amount and said it will incorporate crypto assets and blockchain technology to expand “aggressively” into Web 3.0. 
  • Osaka-based SEBC is one of the 30 digital asset exchanges registered under Japan’s Financial Services Agency (FSA), with 11 listed cryptocurrencies.
  • Kakao wants to get 30% of its revenue from overseas by 2025, and sees Japan as a key to that pivot.

See related article: Kakao’s Klaytn latest to join China’s BSN International

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