Parataxis Holdings to launch Bitcoin asset management platform in South Korea through $18.29 million acquisition

PANews June 20 news, according to PR Newswire, Parataxis Holdings, a Bitcoin-focused investment startup, announced that it has reached a final agreement with Bridge Biotherapeutics, Inc. to invest 25 billion won (about 18.29 million U.S. dollars) to enable Parataxis Holdings to obtain 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 Korean Kosdaq (KOSDAQ). This transaction will create a native Bitcoin-based fund management platform in the Korean open market, which is supported by institutional investors with extensive experience in digital asset investments.

Earlier news said that Parataxis Holdings plans to go public through a SPAC transaction , and the transaction still needs to complete routine procedures such as due diligence, signing a final agreement and obtaining regulatory approval.