U.S.-listed company ARAX will acquire a 75% stake in DeFi developer: Core Business for 18 million euros

The U.S. listed company ARAX has signed a binding letter of intent and deal terms, and filed an 8K document to the U.S. Securities Commission (SEC), officially launching the process to acquire 75% holdings’ share capital of Core Business (formerly Konrad): the Defi and DApp developer behind Core Blockchain, ARAX will also acquire a minority stake in Core, the total transaction value reached 18 million euros.

According to the delivery requirements, this acquisition is expected to be completed within the next two months, and it also involves the intellectual property rights of some projects, including the Core Token and Smart Contract Platform, Ping Exchange and Settlement Platform, Wall Money NEO Banking and Fintech SaaS Platform, the CorePay payment and Remittance Platform.


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