Cryptocurrency exchange Bitstamp has been acquired - Rickey J. White, Jr. | RJW™
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Cryptocurrency exchange Bitstamp has been acquired

29 Oct Cryptocurrency exchange Bitstamp has been acquired

Posted at 06:54h in Popular Newsfeed by
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The Slovenia-founded/Luxembourg-based cryptocurrency exchange Bitstamp has been bought by NXMH, a Belgium-based investment firm whose parent company also owns the South Korean exchange Korbit. It was reportedly an all-cash deal. Though Bitstamp isn’t disclosing the terms, Fortune reports rumors saying the deal was around $400 million.

The exchange’s founder, Nejc Kodrič, told Reuters that despite the huge downturn in the cryptocurrency market, Bitstamp remains profitable. In 2016, it was valued at around $60 million, and the company says its transactions’ value exceed $100 million each day, making it Europe’s largest exchange.

Despite sharing the same parent company, Bitstamp and Korbit will reportedly still operate independently.

You can read the full report here.


Source: Fast Company

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