RATE Group | NXMH buys old-school cryptocurrency exchange Bitstamp
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NXMH buys old-school cryptocurrency exchange Bitstamp

31 Oct NXMH buys old-school cryptocurrency exchange Bitstamp

Posted at 13:46h in Cryptocurrency News by

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One of the oldest operating cryptocurrency exchanges, Bitstamp Ltd., has been acquired by Belgian investment firm NXMH.

The price of the deal was not disclosed, but CCN reported Monday that Bitstamp was seeking as much as $400 million and was in the final stages of inking an agreement with a South Korean investment firm before the acquisition by NXMH was announced. NXMH is a Belgium-based subsidiary of South Korean company NXC Corp., the owner of cryptocurrency exchange Korbit.

Founded in a Slovenian garage in 2011 before moving its head office to the U.K., Bitstamp is currently the 29th largest cryptocurrency exchange by volume. Coingecko noted noting the company deals with about $32 million in cryptocurrency buys and sells per day, although Reuters put the figure at $100 million.

“The sale wasn’t planned,” founder Nejc Kodrič said in an interview. “There was no active effort to go around and solicit buyers. The vibrant industry last year sparked potential…

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