page contents Razer will pay $61 million for virtual currency firm MOL Global – The News Headline

Razer will pay $61 million for virtual currency firm MOL Global

Gamer tools corporate Razer stated it plans to procure the rest 65 p.c of stocks of digital forex company MOL World for $61 million in money.

Razer already owns 34.nine p.c of the Malaysia-based MOL World, which has a digital credit platform this is fashionable in Asia. Razer invested $20 million in MOL World in June 2017.

The transfer strengthens Razer’s transfer into ecommerce. Previous this month, Razer introduced its personal selection app retailer to Steam. It’ll use that retailer to push its zVault virtual pockets and zGold rewards program for avid gamers. Throughout the digital forex program, avid gamers can now earn zSilver forex by way of enjoying their favourite PC video games introduced with Razer Cortex. Razer Cortex is unfastened instrument that provides avid gamers a wide variety of PC efficiency equipment and recreation deal seek equipment.

“This acquisition will mix Razer’s zGold and MOL World’s MOLPoints digital credit, developing one of the vital biggest digital credit platforms for avid gamers on the planet,” stated Min-Liang Tan, CEO of Razer, in a remark. “Southeast Asia represents one of the vital very best GDP expansion areas with one of the vital youngest demographics on the planet. Moreover, for the reason that MOL World already runs one of the vital biggest e-payments networks in Southeast Asia, the mixing of MOL World’s companies represents a thrilling new trade section with boundless attainable that Razer can prolong into. Over and above, we will leverage on MOL World’s main applied sciences, in addition to its huge community of content material, consumers and companions constructed over 17 years, and prolong our current companies by way of taking pictures the fast-growing Southeast Asia area for Razer.”

Above: Razer is sponsoring KSV’s esports groups, together with the Seoul Dynasty Overwatch League staff.

Symbol Credit score: Razer

Bank cards aren’t used a lot in Southeast Asia. MOL World’s offline-to-online charge type has about one million offline charge issues, making it the biggest digital credit platform for avid gamers within the area. This has enabled video games corporations reminiscent of Sony PlayStation Retailer SEA, Fb Gameroom, Nexon, and Wargaming to monetize their video games and virtual content material in Southeast Asia.

Upon the of entirety of the merger, Razer’s present zGold digital credit trade shall be mixed with MOL World’s MOLPoints digital credit trade, developing one of the vital international’s biggest digital credit platforms for avid gamers beneath a unmarried entity. The hope is this may increasingly boost up and scale up the services and products class inside of Razer’s gamer-focused ecosystem, permitting video games and media corporations to proceed to additional monetize their video games and content material international on a unique platform with economic system of scale.

MOL World lately operates one of the vital biggest e-payment networks in Southeast Asia. In 2017, it treated greater than $1.1 billion in funds. Razer went public final yr, and it has its headquarters in San Francisco and Singapore.

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