[오~컬쳐]Kim Jung-joo’s’Aquis’, the reason for buying 3.5 billion cryptocurrency

The’fintech business’ that NXC CEO Kim Jung-joo dreams of is revealing its outline. NXC’s fintech developer company’Aquis Korea (hereinafter Aquis)’ is accelerating the development of a’financial asset trading platform’ by acquiring 3.5 billion won worth of cryptocurrency.

On the 19th, Aquis announced that it will acquire a cryptocurrency worth 3.5 billion won from’Streamy’, the operator of the cryptocurrency exchange’GoPax’. This is equivalent to 721.08% of the total assets of Aquis (approximately 485.38 million won).

Key investments in Aquis. (Photo = Reporter Seong-oh Chae)

Aquis bought cryptocurrency to promote a new business. NXC officials <블로터>“We are currently developing a financial asset trading platform,” he said. “We have acquired cryptocurrency to develop related platforms.”

Since its establishment in February of last year, Aquis has secured billions of operating funds through NXC’s participation in capital increase. Since then, it has been focusing on securing financial assets since the end of last year, such as buying cryptocurrency worth 1.3 billion won twice from Quant (math algorithm-based) investment startup’Waveridge’. The $3.5 billion worth of cryptocurrency purchased this time is the largest financial asset ever acquired by Aquis.

The main keywords Aquis put up at the time of its launch were’global’,’accessibility’, and’trading platform’. At the time of establishment of Aquis, NXC said, “We will launch a trading platform that anyone can easily access in the global market next year.” The goal is to lower the threshold of asset management by moving away from existing financial and investment experiences that require understanding of securities charts and technical terms.

The industry expects Aquis to create a fintech platform that combines game, AI, and trading technologies. In fact, Aquis presented an example of combining games and investments when it was founded. Considering that NXC is a holding company of Nexon, the possibility of grafting into Nexon games or introducing related contents is also predicted.

Example of Aquis platform development. (Photo = NXC, Aquis)

When Aquis acquired the cryptocurrency from Wave Ridge, it purchased a quant solution together and appointed Kim Seong-min, who served as the head of the Nexon Intelligence Labs (AI dedicated organization) development department, as the head, and it is expected that it will be a trading platform based on a mathematical algorithm. Comes out.

Currently, Aquis is known to speed up the development of a trading platform while securing several financial assets. An official from NXC said, “We are conducting tests in the development stage,” and “a form of utilizing various financial assets for trading platforms.”

In addition, if NXC acquires’Bithumb’, a cryptocurrency exchange, the fintech platform’s capabilities are expected to further strengthen. Following the acquisition of’Cobit’, a domestic coin exchange in 2017, it is analyzed that it can generate sufficient synergy effects by purchasing’Bitstamp’, the largest virtual currency exchange in Europe through a subsidiary.

An official in the industry said, “CEO Kim Jung-joo has been increasing competitiveness in the financial industry without banks by investing in Indian fintech funds as well as virtual assets since 2017. “We will create a new business model through synergies.”