Kakao to acquire Milk Milk (MLK) soars alone in a bear market

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[Blockchain Today Correspondent Han Ji-hye] Milk is soaring on the news that Kakao Group will acquire Milk Partners, the operator of the virtual asset point platform Milk (MiL.K).

As of 10:25 am on the 6th, milk is trading at 2,780 won on Upbit, a domestic cryptocurrency exchange, up 26.36% from the previous day. According to the investment banking (IB) industry on the same day, the price began to rise as it became known that Kakao was pursuing the acquisition of Milk Partners and that the contract was imminent. The acquisition price of 100% stake is said to be more than 100 billion won.

MiL.k is a cryptocurrency for integrating the points of travel, leisure, and lifestyle services using blockchain. Through Milk, users can easily liquidate scattered points and use them on other platforms.

Currently, there are many companies representing the industry in Milk Alliance, including Yanolja (travel/leisure), Shinsegae Internet Duty Free (duty-free), Jin Air (airline), Megabox (multiplex cinema), and CU (convenience store).

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