Parataxis Holdings, a digital asset investment firm based in New York, announced plans to acquire a majority stake in Sinsiway (290560), a South Korean data security firm, for 40 billion won ($27.3 million). The company will then be transformed into a publicly traded ether treasury firm.
With this acquisition, Parataxis and undisclosed affiliates will hold a controlling interest in the 20-year-old company. Pending approval from Sinsiway’s shareholders in January 2026, the firm will be renamed Parataxis ETH, Inc., keeping its stock-exchange listing, as stated in a press release shared with CoinDesk.
This rebranded entity will represent South Korea’s inaugural ether-focused treasury platform, supported by institutional capital from the U.S., the release added. Edward Chin, founder and CEO of Parataxis Holdings, is anticipated to join its board.
This development aligns with Parataxis’ broader objective of integrating digital assets into public markets. Previously, it launched Parataxis Korea, emphasizing bitcoin treasury operations. As reported by BitcoinTreasuries, the company currently possesses 150 BTC valued at nearly $14 million.
The ETH-centric entity will similarly hold ether as a fundamental part of its strategy, connecting traditional finance with on-chain assets such as stablecoins, DeFi protocols, and blockchain-based games.
“Ethereum is embarking on its own super cycle driven by Wall Street adoption, emerging as the most trusted platform for essential use cases like stablecoins, Decentralized Finance (DeFi), and gaming,” Chin commented in a statement.
Founded in 2019, Parataxis Capital oversees hedge funds and provides advisory services to institutional clients.
