Bitcoin and digital currency exchange Bitstamp announced today that the company has been acquired by NXMH, a Belgium-based investment company.
The deal was signed by representatives from Bitstamp and NXMH on Thursday, October 25th.
NXMH, a Belgium-based holding company, is owned by NXC, which also owns South Korean cryptocurrency exchange Korbit – though Bitstamp and Korbit will continue to operate independently. The two companies plan on generating synergies in a number of areas, including technology, research, and development.
“Bitstamp is one of the oldest and most-respected cryptocurrency exchanges and we see positive growth potential as the industry continues to evolve,” said NXMH Investment Manager Hendrik Ghys. “We acquired Bitstamp because we see it as a strategic, long-term investment.”
“NXMH shares our vision for the future of digital currencies,” said Nejc Kodrič, Bitstamp CEO. “We see cryptocurrency continuing to become more mainstream and a part of people’s everyday lives, as well as growing at the institutional level as the gap between the digital and traditional financial worlds keeps shrinking. NXMH’s acquisition of Bitstamp supports our strategic growth initiatives.”
Kodrič retains a minority ownership interest in Bitstamp and will continue as CEO. He and Damian Merlak founded the company in 2011, which has grown to more than three million registered customers today and is the EU’s largest digital currency exchange by volume. Pantera Capital Management LP also owned a portion of Bitstamp after making a $10 million investment in the company in 2014; the company retains a 6 percent stake in Bitstamp.
Kodrič says Bitstamp customers can expect improvements in user experience, customer service, trading functions, and other operations. The company will continue to provide the most robust, safe and secure trading environment possible.
“We believe this acquisition is a logical evolution in Bitstamp’s growth as a company,” said Kodrič. “We are now entering a new era in our company’s history, which has come a long way since it began seven years ago in a garage with two laptops and EUR 1000.”
Neither company is disclosing the sale price or terms of the deal.