Bithumb Korea Co., Ltd. is in the spotlight once again as the potential sale of the nation's leading cryptocurrency exchange operator has apparently attracted global suitors. Morgan Stanley (NYSE:MS), Deutsche Bank Aktiengesellschaft (XTRA:DBK) and JPMorgan Chase & Co. (NYSE:JPM) are among the companies that are cited as the potential buyers of Bithumb Korea.

(Although Morgan Stanley has officially denied media reports that it is planning to acquire a stake in Bithumb Korea.) Visa Inc. (NYSE:V) and NAVER Corporation (KOSE:A035420), along with an affiliate of the CME Group Inc. (NasdaqGS:CME), are also said to be interested in acquiring Bithumb Korea from its major shareholder, Vidente. China's Binance Holdings Limited, which runs the world's largest cryptocurrency exchange, is another candidate to possibly join the bid. However, it remains unclear whether they will keep vying with each other until the end of the bid.

The progress of the deal had remained sluggish throughout last year, since Bithumb Korea's largest shareholder, Bithumb Holdings, started looking for buyers for a controlling stake last August after hiring Samjong KPMG as an adviser. This delay was mainly due to multiple legal disputes involving Bithumb Holdings' board chairperson, Lee Jung-hoon, who is considered to be the de facto owner of the company. Vidente, however, said in a regulatory filing that it has not decided whether to sell its stake in Bithumb Holdings or to acquire an additional stake.

As the acquisition process has remained sluggish, there has been speculation that Nexon's Kim may have failed to take over Bithumb Korea. The potential buyers that are currently being mentioned are reportedly trying to acquire Vidente'sstake in Bithumb Korea before securing the controlling stake, by buying additional shares. However, some observers said the Bithumb Holdings' board chairperson may not give up his management control since his chances of victory in the multiple legal disputes over the company have increased.