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ITsEn Global denies Web3 business withdrawal rumors, plans Q3 token launch
🇰🇷 South Korea /Technology

ITsEn Global denies Web3 business withdrawal rumors, plans Q3 token launch

From Chosun Ilbo · () Korean

Translated from Korean, summarized and contextualized by DistantNews.

At a glance

News Sources not specified Context piece
  • ITsEn Global has refuted market rumors claiming its withdrawal from Web3 business, calling them groundless.
  • The company emphasized that its blockchain-based Web3 business, pursued with key affiliates Korea Gold Exchange and Korea Gold Exchange Digital Asset, is nearing commercialization.
  • The company's stock has seen consecutive declines on the KOSDAQ market following the circulation of these rumors.

ITsEn Global has strongly denied market speculation about its withdrawal from the Web3 business, asserting that such rumors are unfounded. The company highlighted its progress in the blockchain-based Web3 sector, a venture undertaken in collaboration with its major affiliates, Korea Gold Exchange and Korea Gold Exchange Digital Asset.

According to industry sources on the 23rd, ITsEn Global has been facing consecutive declines in its stock price on the KOSDAQ market since the market rumors of its Web3 business withdrawal began to circulate. The company’s statement aims to counter these negative market perceptions and reassure investors.

The company stressed that its Web3 initiatives are advancing towards the commercialization stage. This indicates a commitment to the sector despite the circulating rumors, suggesting that the business is not only ongoing but also nearing a significant milestone.

DistantNews Editorial

Originally published by Chosun Ilbo in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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