South Korea’s first Ethereum treasury company》Parataxis Holdings spends 40 billion won to acquire Sinsiway to create ETH DAT
Parataxis Holdings, a New York-based digital asset investment company, has agreed to acquire a majority stake in South Korean data security company Sinsiway (stock code: 290560) for 40 billion won (approximately US$27.3 million), and plans to transform it into South Korea's first publicly listed Ethereum (ETH) treasury company.
(Preliminary information: Quantum Solutions, Japan’s first Ethereum treasury, received investment from the female stock goddess! It bought 2,365 ETH in 7 days, ranking 11th Ethereum DAT in the world)
(Background supplement: Compilation of the top ten Ethereum treasury companies: How do they make money from ETH money?)
Parataxis Holdings, a digital asset investment company headquartered in New York, has agreed to invest 40 billion won (approximately At a price of US$27.3 million), it acquired a majority stake in South Korean data security company Sinsiway (stock code: 290560) and plans to transform it into South Korea’s first publicly listed Ethereum (ETH) treasury company. The deal marks Parataxis’ further expansion into South Korea’s crypto-asset space, having previously established a Bitcoin treasury in a similar manner.
Ethereum is heading towards a super cycle
According to CoinDesk, Parataxis will acquire a controlling stake in Sinsiway with a transaction amount of 40 billion won. Once the deal is completed, Sinsiway will be renamed Parataxis ETH and become a digital asset treasury (DAT) focused on storing Ethereum. At the same time, the new company will be supported by U.S. institutional capital and focus on ETH asset management, including accumulating ETH and developing related financial products. In addition, Parataxis founder and CEO Edward Chin will also join the board of directors to strengthen corporate governance.
It is worth mentioning that this will be the first publicly listed ETH treasury in South Korea, aiming to introduce digital assets into the Korean public market and allow more investors to access cryptocurrencies through the stock market. The company has previously launched Parataxis Korea (formerly Bridge Biotherapeutics), which focuses on Bitcoin treasury and mining operations. It currently holds more than 150 BTC and completed 10 billion won in financing.
In this regard, Edward Chin also said in the statement: "Ethereum, as the most trusted platform supporting key application scenarios such as stablecoins, decentralized finance (DeFi) and blockchain games, is entering its own super cycle, and its core driving force is adoption from Wall Street."
What is Parataxis Holdings?
Parataxis Capital, the parent company of Parataxis Holdings, was founded in 2019 and is a multi-strategy investment advisory firm focusing on the digital asset field. The company is composed of a professional team with experience in traditional finance, digital assets and risk management. It mainly manages hedge funds and provides advisory services to institutional investors, including family offices, high net worth individuals and registered investment advisors (RIAs).
Parataxis Capital emphasizes capturing return opportunities in market cycles through diversified strategies and applies rigorous asset management methods to the crypto space. Its funds have recorded annualized returns of up to 341% in 2023, demonstrating its strong competitiveness in the highly volatile digital asset market. The transaction is expected to be submitted to the shareholders’ meeting for consideration in January 2026. If approved, it will further promote the internationalization of South Korea’s crypto industry.
