City Labs, a KOSDAQ-listed company, has made an equity investment in Streamy, the operator of 'GoPAX,' one of the top five cryptocurrency exchanges in South Korea.
On the 22nd, City Labs announced that it acquired a total of 76,308 shares of Streamy through a contract to purchase 59,431 newly issued shares from a paid-in capital increase and 16,877 existing shares, securing an 8.55% stake.
GoPAX, which opened in 2017, is recognized as one of the top five cryptocurrency exchanges in South Korea where virtual asset trading is possible using Korean won.
A City Labs representative stated, “As we have been focusing on preparing future growth engines utilizing blockchain technology in areas such as smart cities and gaming, we hope this investment will serve as an opportunity to further strengthen the momentum of our blockchain business foundation.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
