U.S.-listed company ARAX will acquire a 75% stake in DeFi developer Core Business for 18 million euros

U.S. listed company ARAX has signed a binding letter of intent and transaction terms, and submitted an 8K document to the U.S. Securities Commission (SEC), officially launching the process to acquire Core Business (formerly Konrad), the DeFi and DApp developer behind Core Blockchain. ), ARAX will also acquire a minority stake in Core, with a total transaction value of EUR 18 million. According to the delivery requirements, this acquisition is expected to be completed within the next two months, and it also involves the intellectual property rights of some projects, including Core token and smart contract platform, Ping transaction and settlement platform, Wall Money NEO bank and fintech SaaS platform and the CorePay payment and remittance platform.