NXMH Buys 80% of Bitstamp Bitcoin Exchange for a Rumoured US$400 million

By , 29 Oct 2018, 16:00 PM Business

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Bitstamp has been purchased by NXMH, a Belgium-based investment company that is the European subsidiary of South Korea-based NXC, which invests in digital technologies. NXC also owns South Korean cryptocurrency exchange Korbit, and Nexon, a South Korean gaming company. 

As the cryptocurrency exchange’s CEO, Nejc Kodrič, says in the official announcement, “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. A major factor in agreeing to the sale is that the mission, leadership and vision of the company remains the same.”

NXMH will acquire an 80% stake, for a rumored US$400 million (€351 million), while Kodrič will keep 10%. Pantera Capital Management LP, which made a US$10 million investment in the firm in 2014, also sold part of its stake in Bitstamp to NXMH.

Mr Kodrič adds that the sale should not affect Bitstamp’s services: “We 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.”

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