Kakao Piccoma, a Japanese digital comics’ subscription service and subsidiary of the Korean web firm Kakao, has bought a 50% controlling stake within the Japanese cryptocurrency alternate, Sakura Trade Bitcoin (SEBC).

That makes Kakao its largest shareholder and the deal can also be anticipated to assist Kakao provide cryptocurrency providers on its Piccoma webtoon platform, and develop aggresively into Web3, in keeping with native media reports. Piccoma is the biggest webtoon platform in Japan, and in 2021 its app marked $1 billion in client spend after six years within the Japanese market.

The quantity Kakao paid for its stake within the alternate has not been disclosed.

SEBC is one in every of solely 30 crypto-asset exchanges registered in Japan with the Monetary Providers Company (FSA) and lists 11 cryptocurrencies, together with Bitcoin (BTC), Ethereum (ETH), XRP, and Litecoin (LTC).

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In mid-March, Kakao’s founder Kim Beom-soo, often known as Brian Kim, stepped down from the board of administrators to deal with the corporate’s affiliate manufacturers, particularly on the Kakao Piccoma model in Japan. The acquisition of SEBC is the primary merger and acquisition transfer from Kakao since Kim resigned.

Kakao has confirmed curiosity within the crypto area earlier than. In August final yr Kakao launched two blockchain firms in Singapore, the Klaytn Basis, a non-profit group and Krust, a world accelerator for blockchain know-how adoption.

Kakao additionally runs a specialised blockchain subsidiary referred to as Floor X, which gained a central financial institution digital forex (CBDC) tender from the Financial institution of Korea in July 2021, turning into the chief know-how provider for blockchain-based digital gained simulations.

Prior, the corporate additionally was an early investor within the Upbit alternate, the primary crypto alternate to file with South Korea’s monetary regulators.