Bithumb, one of the largest cryptocurrency exchanges in South Korea by its daily trade volume, has sold more than 38 percent of its ownership to a blockchain consortium in Singapore, Coindesk Korea reported this morning. The stake was sold for 400 billion won, or $350 million USD.

Stake Sold

Bithumb signed the deal on October 11th with BK Global Consortium. BK Global Consortium is a blockchain investment firm that was formed by BK Global, a plastic surgery medical group in Singapore.

BTC Holdings Company currently owns 76 percent of Bithumb’s equity and has agreed …