Parataxis Launches Bitcoin Treasury Platform in South Korea
Parataxis Holdings, an affiliate of Parataxis Capital Management, has acquired Bridge Biotherapeutics, a South Korean biotech firm, for 29 billion South Korean won ($18.5 million). This strategic move introduces a Bitcoin-native treasury platform, aiming to enhance institutional access to Bitcoin in South Korea. The platform will operate under the renamed entity, Parataxis Korea, focusing on Bitcoin exposure for institutions.
Why South Korea?
South Korea presents a unique opportunity for Bitcoin adoption despite current regulatory barriers. The Financial Services Commission (FSC) is testing a program to allow institutional digital asset investments by 2025. This initiative could pave the way for broader Bitcoin integration in the region.
Key Benefits of the Bitcoin Treasury Platform
- Facilitates institutional access to Bitcoin
- Emphasizes sound corporate governance
- Aligns with global trends in Bitcoin adoption
Market Impact
The announcement boosted Bridge Biotherapeutics‘ stock by 20%. Over 237 public companies now hold Bitcoin, reflecting growing corporate interest.
