Parataxis Holdings to Acquire Sinsiway for $27M, Launch Korea’s First ETH Treasury Platform
Parataxis Holdings will transform South Korea’s Sinsiway into Parataxis ETH, Inc., a publicly listed Ethereum treasury platform backed by U.S. institutional capital, pending 2026 shareholder approval.
Parataxis Holdings, a New York-based digital asset investment firm, announced an agreement to acquire a controlling stake in Sinsiway, a South Korean data security company, for 40 billion won ($27.3 million). The transaction, subject to shareholder approval in January 2026, will rename the company Parataxis ETH, Inc. and retain its Korean stock-exchange listing. It will become South Korea’s first ether-focused treasury platform backed by U.S. institutional capital. The entity will hold ETH as its core asset, linking traditional finance with on-chain investments including stablecoins, DeFi protocols, and blockchain gaming. This move follows Parataxis Korea’s earlier launch of a Bitcoin treasury division, which currently holds 150 BTC worth nearly $14 million.
- Ethereum (ETH): A blockchain platform supporting smart contracts and decentralized applications, with ETH as its native cryptocurrency.
- Treasury Platform: A financial service infrastructure designed to manage and deploy cryptocurrency holdings for institutional clients.
- Institutional Capital: Investment funds originating from large organizations such as banks, pension funds, or asset managers, rather than individual investors.