BITMEX – the leading crypto exchange along with a pioneer French wine retailer is partnering reportedly toward acquiring the majority stake of the licensed, yet inactive Japanese Crypt Exchange named “BitOcean.”
Madison Holdings Group – lately listed on the GEM (Growth Enterprise Market) of the Hong Kong Stock Exchange, is planning towards the acquisition of 62.7 percent stake of BitOcean, as per a report. This acquisition is aimed at 1.68 billion Yen (around $15.12 million) which will be paid to the existing third-party stakeholders. This is in addition to the further extra fees of around $15 million. Though this deal is incomplete, it is reportedly to be made through the subsidiary party –the Madison Labs.
BitOcean is a leading crypto exchange in Japan that has been officially registered with a Japanese regulator. The deal of BitOcean comes parallel to the Madison Lab’s plans for its majority acquisition by the respective parent company of yet another major crypto trading platform – BitMex. As per a report, HDR Cadenza Management – the subsidiary of the owner of BitMex HDR Global Trading, also has plans of acquiring around 51 percent of the stake of Madison Labs at the cost of around $17.14 million.