Bitstamp, a Europe based exchange and also one of the crypto’s longest running exchange, has been sold out in an all-cash deal to NXMH, a Belgium based investment firm. The amount on which the deal has been secured is still undisclosed.
Bitstamp was founded in Slovenia by Kodric and Damian Merlak. However, as per Reuters, Merlak sold his entire 30 percent stake in Bitstamp in a deal and has not been active since 2015.
NXMH is the European subsidiary of South Korea-based NXC, which invests in digital technologies. The South Korean cryptocurrency exchange, Korbit, is also owned by NXC.
According to Reuters, the new owner NXMH will have the majority 80 percent stake while the old CEO will retain 10 percent of ownership interest in the exchange. It can bring a new uprise in the trend of traditional investors moving into the cryptocurrency industry.
In a recent press release, the CEO Nejc Kodric stated,
"Today I am pleased to announce that Bitstamp has been acquired by NXMH, a Belgium-based investment company. Bitstamp has been regularly approached by suitors for quite some time. The reason why we finally decided to sell the company is a combination of the quality of the buyer, the quality of the offer and the fact that the industry is at a point where consolidation makes sense."
He also stresses the fact that Bitstamp’s services are not going to change for any bad.
"We do anticipate that this acquisition will strengthen Bitstamp’s positioning for growth, which will provide opportunities to better serve our customers. Customers should not have any concerns about their accounts or changes to the way we operate."
The exchange's strategy is to establish more partnerships with other banks from different countries. They are striving to work towards creating a dynamic banking infrastructure. We don't expect the acquisition to hinder the strategy on which the company was put up.
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