Parataxis Holdings launched a Bitcoin-based native fund management platform in the country through the acquisition of the South Korean listed company Bridge Bio.

According to Techub News, Bitcoin investment company Parataxis Holdings LLC announced that it has reached a final investment agreement of 25 billion KRW with Bridge Biotherapeutics, Inc., which grants it control of the latter. After the transaction is completed, Bridge Biotherapeutics will be renamed Parataxis Korea and will continue to be listed on the KOSDAQ market in South Korea.

This transaction will create a Bitcoin-based native fund management platform in the South Korean public market, supported by institutional investors with rich experience in digital asset investment. As part of the transaction, Edward Chin, founder and CEO of Parataxis Holdings and co-founder and CEO of Parataxis Capital, will join the company's board of directors. Andrew Kim, partner at Parataxis Capital, will serve as the company's CEO and join the board. James Jungkue Lee, co-founder of Bridge Bio, will continue to lead the core biotechnology business and serve as a member of the company's board.