Kakao Piccoma Expands into Crypto with SEBC Stake Acquisition

Strategic Move in the Digital Realm

Kakao Piccoma, the superstar of Japanese digital comics, has decided to dip its toes into the murky waters of cryptocurrency by purchasing a 50% controlling stake in Sakura Exchange Bitcoin (SEBC). This move positions Kakao as SEBC’s largest shareholder. Why the sudden shift from comics to crypto? Well, local reports suggest that Kakao aims to integrate cryptocurrency services right into its beloved Piccoma webtoon platform, making those comic-loving wallets a little heavier.

The Numbers Game: What’s the Investment?

While the exact amount that Kakao shelled out for this stake remains shrouded in mystery (cue the suspenseful music), the potential financial implications are worth discussing. Piccoma, being Japan’s largest webtoon platform, raked in a whopping $1 billion in consumer spending as of 2021. Pairing this with the rapidly growing crypto sphere could spell out success on a whole new level.

SEBC: A Trusted Exchange

Sakura Exchange Bitcoin is not just any crypto exchange. It is one of only 30 registered with Japan’s Financial Services Agency (FSA) and prides itself on listing major cryptocurrencies like Bitcoin (BTC), Ether (ETH), and Ripple (XRP). This gives Kakao a reliable platform to launch its crypto ventures while also ensuring compliance with stringent regulations—definitely a plus in the eyes of wary investors.

Kakao’s Big Plans

Plans to expand into the Web3 domain are part of Kakao’s long-term strategy post-acquisition. With founder Kim Beom-soo stepping back from the board to focus on affiliate brands, including Piccoma, the SEBC deal is a clear sign that Kakao is serious about making a splash in the digital currency pond.

Reflecting on Past Ventures

Kakao’s affection for the crypto world isn’t new. They launched two blockchain companies in Singapore last year and even won a central bank digital currency tender in South Korea. If this acquisition is any indication, Kakao is ready to blend entertainment with cryptocurrency, making wallets and webtoons the new power couple.