Belgium Based Investment Company NXMH, the daughter company of South Korean NXC, has acquired well-established crypto exchange Bitstamp.

It is reported that purchase is worth $400 Millions with NXMH becoming an 80% owner of the exchange.

Nejc Kodrič, Bitstamp's founder and CEO, remains his position and a 10% ownership.

Nejc Kodrič shared the news today:

Dear Bitstamp customers,

Today I am pleased to announce that Bitstamp has been acquired by NXMH, a Belgium-based investment company.

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 remain the same.

Read the full announcement here.

NXC also owns South Korean crypto exchange Korbit. It is said that both exchanges will operate independently in the future.

Bitstamp was the first exchange to offer XRP trading pairs and is one of the most sought for fiat currency transactions. They support USD and EUR exchange with the following currencies:

  • Bitcoin,
  • Ripple,
  • Litecoin,
  • Ethereum and
  • Bitcoin Cash.

Ps: Bitstamp is also my favourite entry point. I do hope that in the future they will operate as smoothly as the did until now.