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Parataxis Holdings plans to launch a Bitcoin asset management platform in South Korea through an acquisition deal of approximately $18.29 million.
PANews, June 20 news, according to a report by PR Newswire, the Bitcoin-focused investment startup Parataxis Holdings announced that it has reached a final agreement with Bridge Biotherapeutics, Inc. to invest 25 billion KRW (approximately 18.29 million USD), allowing Parataxis Holdings to gain a controlling stake in the company. After the completion of this transaction, the company intends to change its name to Parataxis Korea and continue to be listed on the KOSDAQ in South Korea. This transaction will create a Bitcoin-based native fund management platform in the South Korean public market, supported by institutional investors with rich experience in digital asset investment. According to previous news, Parataxis Holdings plans to go public through a SPAC transaction, which still requires the completion of due diligence, signing of the final agreement, and obtaining regulatory approvals among other routine procedures.