Nejc Kodrič, the CEO of the cryptocurrency exchange Bitstamp, has published a blog post announcing that the Belgium-based investment company, NXMH have acquired it.
NXMH is the parent company of NXC that owns multiple services, both in the cryptocurrency space – such as the South Korean crypto exchange Korbit – and outside of that. An example for the latter is Nexon, a Korean-Japanese video game company specializing in making online games for both desktop and mobile platforms.
According to Kodrič, Bitstamp has been regularly approached with intentions to purchase the company:
“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 remain the same.”
Business goes as usual
The CEO assured its customers that they shouldn’t have any concerns regarding their accounts or the way the exchange will operate. Furthermore, Kodrič stated that the acquisition is part of the innovation process Bitstamp is taking. Despite a new organization’s leadership, the CEO emphasized that “Bitstamp remains Bitstamp,” seeking to provide its users with the best trading experience on the platform. He believes that the acquisition will “strengthen Bitstamp’s positioning for growth,” as well as more opportunities to serve its customers better.
Kodrič will remain the CEO of the cryptocurrency exchange with a minority stake (10%), while Bitstamp will continue to operate independently. Either Bitstamp or NXMH did not disclose the sale price of the company, but there are rumors that the cryptocurrency exchange was acquired in the range of $400 million.
The acquisition was the next logical step for Bitstamp
Kodrič stated that their goal, in cooperation with NXMH, is to work on bridging the gap between traditional finance and cryptocurrencies. According to the CEO of the exchange, unlike some of their competitors, Bitstamp wants to set standards for the industry.
“We’ve already taken the regulatory framework seriously starting back in 2014, we started doing [know-your-customer] before it was an industry standard. All of it comes down to us viewing crypto as being a spark of everyday life,” he added.
Hendrik Ghys, investment manager at NXMH, is on the same opinion as Kodrič:
“Bitstamp is one of the oldest and most-respected cryptocurrency exchanges and we see positive growth potential as the industry continues to evolve … We acquired Bitstamp because we see it as a strategic, long-term investment,” he said in a statement.
Kodrič stated that Bitstamp’s acquisition is the “next logical step” in the company’s growth, and he looks forward to the future with the team.