Blockchain Startup Denies Reports of Acquisition by Thai Conglomerate

April 21, 2019

Omise, a major blockchain startup, has denied a report that it has been acquired by Thai conglomerate CP Group for US$150 million. The story was originally reported by crypto news portal The Block Crypto, citing anonymous sources.

As reported by Tech in Asia, Omise tweeted that information was false, adding that it has reached out to The Block to “rectify the article and take necessary actions.”

Company founder Hasegawa Jun said Omise was even considering taking legal action against the media outlet, believing the report could have “an adverse effect” on Omise Holdings, its subsidiaries, as well as the firm rumored to be involved in the acquisition.

Investors in Omise also weighed in, with Willson Cuaca, managing partner of East Ventures, saying, “There is no such deal.” The denial was further corroborated by Sam Tanskul, managing director of Krungsri Finnovate, who said CP never approached Omise about such a deal.

As one of the more prominent blockchain firms in Asia, Omise has raised more than US$45 million through an initial coin offering (ICO) and venture capital rounds.

Nevertheless, The Block said it has no plans to retract the article, adding that it stands by all of its reporting while claiming to have “numerous independent sources confirming a particular piece of information.”

Meanwhile, the reporter who broke the story, Frank Chaparro, said Omise had weeks to confirm the news, with The Block claiming “many attempts” were made to reach out to Omise.

Omise operates OmiseGo, a blockchain platform that enables users to transfer money without the need for a bank account or being charged high transaction fees. Additionally, the firm offers a digital payment gateway featuring e-wallet and cross-border remittance services.



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