Belgium-based investment firm NXMH has acquired digital currency exchange Bitstamp for an undisclosed amount.
NXMH portfolio includes a South Korean cryptocurrency exchange, known as Korbit. Bitstamp and Korbit will operate as independent entities, with plans to focus on technology, research and development.
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The digital currency exchange believes that the Bitstamp acquisition will support its strategy for future expansion and growth. Furthermore, the company’s CEO Nejc Kodrič will retain a minority stake and continue in the position.
Kodrič said: “NXMH shares our vision for the future of digital currencies. We see cryptocurrency continuing to become more mainstream and a part of people’s everyday lives, as well as growing at the institutional level as the gap between the digital and traditional financial worlds keeps shrinking.”
Founded in 2011, Bitstamp currently has more than three million users. Pantera Capital Management made a $10m investment in the company in 2014 and retains 6% interest.
Kodrič added: “We believe this acquisition is a logical evolution in Bitstamp’s growth as a company.”
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By GlobalDataNXMH investment manager Hendrik Ghys noted: “Bitstamp is one of the oldest and most-respected cryptocurrency exchanges and we see positive growth potential as the industry continues to evolve. We acquired Bitstamp because we see it as a strategic, long-term investment.”
