Bitstamp sold NXMH - MobileAppDaily
technology

Crypto’s Longest Running Exchanges Bitstamp Sold Out To NXMH

NXMH will own 80 percent stake in the Bitstamp

https://dk2dyle8k4h9a.cloudfront.net/Crypto’s Longest Running Exchanges Bitstamp Sold Out To NXMH

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.

He added,

"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.

Vikram Khajuria
Written By
Vikram Khajuria

Jack of all trades. Covering the journalism field, Vikram writes at MobileAppDaily and keeps surfing the trends to understand tech and inventions better. Don’t forget his driving skills, he is a professional car rallyist. Life has just got better. Breathe it!!

Top Companies

InMobi
Singapore
Dot Com Infoway
New York, USA
M&C Saatchi Mobile
New York City, USA
Techmagnate
New Delhi, India
Fetch
London, UK
View full report

Latest Articles

Join our global community 135K Followers
technology

iOS 11 Bugs Are Now Starts Showing Up In Apple Ads

Vikram Khajuria 4 min read  

Apple seems to permanently stuck with minor iOS 11 bugs, but this time it is unexpected. You must have seen the latest advertisement from Apple flaunting the iPhone X's Face ID feature. Along with the face recognizing unlocking feature the ad also displays a little bug in the iOS 11. The text fr

technology

Google Secretly Announces Plans To Make Over The Internet With AMP

Neha Baluni 4 min read  

Google is one such organization that is continually working on improving the web experience for its audiences in the global arena. And, we being the prominent Google fans keep our readers updated with every latest happening. Among a number of projects that the giant is currently working on, one prom

technology

5 IT Priorities For CIOs In 2018 And Beyond

Vikram Khajuria 4 min read  

2018 has been a year of changes for enterprise IT. Customer expectations are rising, and organizations need to exceed them. As IT continues to be an essential business function, on a par with finance or this hr management software, the IT budgets are coming into focus. With respect to that,

technology

Now, Get Android One Launcher With Google Feed On Your Smartphone

Akash Singh Chauhan 4 min read  

Google owns the platform that is being used by the majority of smartphone users across the globe. However, the company offers different versions of Android to the smartphone users with different hardware support. Smartphones Such as Google’s Pixel series, Xiaomi Mi A1 and Moto X4 are the phone