Parataxis will launch a Bitcoin-native treasury platform in South Korea via Bridge Bio, aiming to expand institutional access to BTC despite regulatory barriers.
Parataxis Holdings, an affiliate of digital asset-focused investment company Parataxis Capital Management, is set to launch a Bitcoin-native treasury platform in the South Korean public market.
The firm announced on Friday it had entered a definitive agreement to invest 25 billion South Korean won ($18.5 million) into Bridge Biotherapeutics, a publicly traded biotech company.
Following the acquisition, Parataxis will take a controlling interest in the firm, which will be renamed Parataxis Korea and repurposed as a treasury vehicle for institutional Bitcoin (BTC) exposure.
Read more