NXMH Acquires Bitstamp Crypto Exchange
Belgian investment company NXMH now owns Bitstamp, one of the leading European crypto platforms. Nejc Kodrič, CEO of the exchange, announced it on October, 29, in the exchange’s blog.
The deal was concluded on Thursday, October 25, the amount and terms of agreement were not disclosed. NXMH acquired a controlling stake, yet the head of Bitstamp will retain its stake in the exchange and continue to be in office. Pantera Capital, which owns a 6% stake in Bitstamp, will retain its stake too.
ANNOUNCING: Bitstamp was acquired by Belgium-based investment company NXMH. Our team, leadership and vision all remain the same. We believe this is the logical next step on our mission to be the most trusted digital currency exchange on the market: https://t.co/UxjNpDeKNR pic.twitter.com/3MUoQtdXFn— Bitstamp (@Bitstamp) 29 октября 2018 г.
Nejc Kodrič stated that the exchange had been repeatedly receiving proposals for the acquisition. The decision is based on a combination of a multitude of buyer’s qualities, seriousness of intentions, a balanced proposal, and the understanding of the exchange management that it is at the point of development when such consolidation makes sense.
The main thing is that the mission and objectives of Bitstamp remain the same, the platform will continue its development, engage in the implementation of new solutions and provide customers with the best trading opportunities. Users do not have to worry about their accounts or possible changes in line with the purchase of NXMH, the exchange’s head stated.
The acquisition by NXMH is a logical step towards Bitstamp’s development, Kodrič thinks, especially considering the fact that the exchange began its operation in 2011 in a garage with two laptops and a startup capital in the amount of €1,000.
NXMH is a subsidiary of South Korean corporation NXC, which owns the Korbit crypto exchange and publisher of popular online games for personal computers and mobile devices.
As previously reported, Huobi Global acquired a controlling stake in the BitTrade crypto exchange.