Bitcoin Exchange Bitstamp Confirms
Sale to Gaming Group NXC
Cryptocurrency exchange Bitstamp has been acquired by NXMH, an investment firm based in Belgium and owned by South Korean conglomerate NXC.
In a deal signed last Thursday, the firm took a majority ownership stake in the exchange. Bitstamp CEO Nejc Kodrič will retain a minority ownership stake and continue running the startup’s operations. The terms of the deal, including the sale price, were not disclosed.
Bitstamp backer Pantera Capital will also retain a 6 percent ownership stake in the exchange, according to statements, and Bitstamp will continue to operate independently.
NXMH’s parent company, NXC, also owns the South Korean cryptocurrency exchange Korbit. NXC owns Nexon, a maker of popular games for both desktop and mobile platforms. Public filingsreleased earlier this year had linked NXC and Bitstamp.
Bitstamp’s customers will not see any immediate change in services, Kodrič told CoinDesk. The exchange has an existing roadmap for improvement, which it intends to stick to for the time being. During negotiations with NXMH, the investment firm essentially agreed with Bitstamp’s goals, he said.
“We realized very early on that our outlook for the crypto industry is very much aligned with them,” he explained. “They’ve given us a lot of confidence that our execution will proceed … They understand the industry.”
NXMH and Bitstamp will continue to work to “bridge the gap between traditional finance and crypto,” a goal that Bitstamp has been working toward for several years already, Kodrič said.