MovieBloc acquires blockchain community Cobak

Blockchain-based movie content distributor MovieBloc is acquiring local cryptocurrency community Cobak. MovieBloc is planning to connect with Cobak’s digital assets and decentralized finance (De-Fi) infrastructure. MovieBloc announced Tuesday that it is acquiring Cobak, a local cryptocurrency community. Blockchain consulting firm Block72 is participating in the deal as a managing partner. Block72 is a subsidiary of global cryptocurrency fund GBIC, which has supported MovieBloc’s global marketing and investment efforts. MovieBloc said it is connecting Block72’s self-developed and managed Standard Tokenization Protocol token assets and Decentralized Finance infrastructure with Cobak’s digital assets and De-Fi infrastructure. Lee Shin-hye, a Block72 partner, is joining as a new outside director for Cobak.

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