Parataxis Agrees to Buy Sinsiway, Make It South Korea's First ETH Treasury Company With U.S. Capital
Parataxis Holdings will acquire a controlling stake in South Korea's Sinsiway for $27.3 million to create Parataxis ETH, Inc., South Korea's first U.S.-backed ether treasury platform.Summary
New York-based digital asset investment firm Parataxis Holdings has agreed to purchase a controlling stake in South Korean data security company Sinsiway for 40 billion won (approximately $27.3 million). Upon shareholder approval in January 2026, Sinsiway will be renamed Parataxis ETH, Inc., retaining its stock exchange listing, and will become South Korea's inaugural ether-focused treasury platform supported by U.S. institutional capital.
This acquisition aligns with Parataxis's broader strategy of integrating digital assets into public markets, following the launch of Parataxis Korea, which focuses on Bitcoin treasury operations. The new ETH entity will hold ether as a core asset and connect traditional finance with on-chain assets like stablecoins, DeFi protocols, and blockchain gaming.
Parataxis Holdings CEO Edward Chin stated that Ethereum is entering a "super cycle" driven by Wall Street adoption for key use cases. Parataxis Capital, founded in 2019, manages hedge funds and advises institutional clients.
(Source：CoinDesk)