Bitstamp Expanding Global Footprint and Seeking Funds: What You Need to Know
Bitstamp, the crypto exchange, is in talks to raise funds and expand its services in Europe and Asia. The fundraising process began in late June under the guidance of Galaxy Digital Holdings. Here are the key points:
- Bitstamp plans to launch crypto derivatives trading in Europe next year.
- Expansion into several markets in Asia is also on the agenda.
- Bitstamp intends to increase its operations in the U.K.
- The company is seeking strategic investors to accelerate its growth.
- Bitstamp has no plans to sell the company.
Bitstamp’s Strong Market Presence
Bitstamp, established in 2011 and based in Luxembourg, is currently the seventh-largest exchange globally. It has a valuable license called BitLicense, allowing it to operate in New York state. Here are the key points:
- Bitstamp has a trading volume of around $126 million within 24 hours.
- European investment firm NXHM acquired Bitstamp in 2018.
- The BitLicense has been crucial for Bitstamp’s success in the US.
- Bitstamp gained market share in the US while other exchanges experienced a decline.
- The collapse of FTX has created opportunities for other players in the crypto derivatives market.
Hot Take
Bitstamp’s plans to expand its global presence and venture into crypto derivatives trading show its commitment to growth and innovation in the crypto space. By seeking funds from strategic investors, Bitstamp aims to provide new products and services to retail and institutional customers. With its strong market presence and valuable licenses, Bitstamp is well-positioned to capitalize on the growing demand for crypto derivatives.
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