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Bitstamp seeks new funds to go global

bitstamp-seeks-new-funds-to-go-global
Edited by
News
Bitstamp seeks new funds to go global

Bitstamp is working on its new plan to go global. In June, the company started working with Galaxy Digital Holdings to seek funding.

According to Bloomberg, the crypto exchange plans to use the funding proceeds to become global by expanding its presence to the Asian nd UK markets. Bitstamp is also planning to launch derivatives trading in Europe.

Jean-Baptiste Graftieaux, global chief executive officer of the company, told Bloomberg that the company won’t be sold. He emphasized the company’s focus on finding new investors.

“Our current and exclusive priority is to raise money through strategic investors to accelerate Bitstamp’s growth by providing new products and services to retail and institutional crypto customers.”

Jean-Baptiste Graftieaux, global CEO at Bitstamp

In early 2023, Ripple acquired a minority stake in the cryptocurrency exchange. In this transaction, Novogratz’s Galaxy acted as an advisor.

The company was founded in 2011 in Slovenia by Nejc Kodrič and Damijan Merlak. The exchange is currently the world’s longest-running cryptocurrency exchange.

Bitstamp currently stands as the world’s seventh-largest exchange, with a trading volume of $154 million in a 24-hour period, according to CoinMarketCap.

Major crypto exchanges per trading volume | Source: CoinMarketCap
Major crypto exchanges per trading volume | Source: CoinMarketCap

In 2018, the company was acquired by NXMH, an investment company owned by South Korean conglomerate NXC.