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OmiseGo refutes Acquisition claims by Charoen Pokphand Group

Hasegawa Jun, the founder of Omise, the company behind OmiseGo (OMG), in a tweet has put an end to rumors suggesting acquisition by Thailand’s richest company the Charoen Pokphand Group (CP Group). Per the reports, from crypto news outlet TheBlock, CP group acquired OmiseGo for a staggering sum of $150 million. Furthermore, the move was touted to be an effort to acquire companies that use crypto for payments. 

As per reports, Jun denied any such event and has also reached out to TheBlock asking for the story to be removed and also that they issue an apology for the same. He further said that such false stories may potentially affect Omise Holdings and its subsidiaries.

OmiseGo refutes Acquisition claims by Charoen Pokphand Group

Also, Jun will purportedly take legal action against TheBlock, if in case it fails to comply with the demands put forth by March 30th.

About OmiseGo

OmiseGO aims to provide unbanked people with an easy and open solution that will allow them to own, send, receive money on one platform. The OmiseGO blockchain will act as a hub to which other blockchains can connect. 
OmiseGO blockchain will additionally include a decentralized order book and trading engine. Direct crosses between wallets may be large in volume. Subsequently, it is expected that EPPs will hold a certain liquidity pool.

In case there are a higher amount of transfers, some ETH will be bonded into a smart contract on the OmiseGO chain. Thus, in this manner, be it fiat or any cryptocurrency, it can be traded with Ethereum(ETH). 

Also, every transaction happening in the OmiseGO ecosystem will generate a small fee. If there are a sufficient number of transactions the fee has the potential to turn into a significant amount. Also, as a preventive measure, the staked tokens are burnt if a user makes bad use of the network.

OmiseGo capped a token sale at $25 million to build a peer-to-peer payment platform in 2017,  raising funds through the sale of its OMG token. At press time it is up by 1.28%, according to CoinMarketFeed data. Back in November 2018, OmiseGo launched its first decentralized application (dApp). 

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