New York-based digital asset investment firm Parataxis Holdings said it agreed to acquire a majority stake in South Korean data security company Sinsiway (290560) for 40 billion won ($27.3 million) and convert it into publicly traded ethereum. Finance company.
Parataxis and unidentified affiliates will acquire a controlling stake in the 20-year-old company. If approved by Sinsiway shareholders in January 2026, the company will change its name to Parataxis ETH, Inc. and retain its listing on the stock exchange, according to a press release shared with CoinDesk.
According to a press release, the rebranded entity will become South Korea’s first Ethereum-focused funding platform backed by U.S. institutional capital. Parataxis Holdings founder and CEO Edward Chin is expected to join the board.
The move is part of Parataxis’ broader strategy to bring digital assets to the public markets. Previously, it launched Bitcoin-focused Parataxis Korea Treasury business. According to BitcoinTreasuries, the company currently holds 150 Bitcoins worth nearly $14 million.
The ETH-focused entity will serve a similar purpose, holding ether as part of its core strategy while connecting traditional finance with on-chain assets such as stablecoins, DeFi protocols and blockchain-based games.
“Ethereum is entering its own supercycle, centered on Wall Street adoption and becoming the most trusted platform supporting critical use cases such as stablecoins, decentralized finance (DeFi) and gaming,” Chin said in a statement.
Parataxis Capital, founded in 2019, manages hedge funds and advises institutional clients.
