Bitstamp Plans to Go Global and Expand Presence in Asian and UK Markets
Bitstamp, the world’s seventh-largest cryptocurrency exchange, is working on a new plan to go global. The company has partnered with Galaxy Digital Holdings to seek funding and aims to use the proceeds to expand its presence in the Asian and UK markets. Additionally, Bitstamp plans to launch derivatives trading in Europe. The company’s global CEO, Jean-Baptiste Graftieaux, emphasized their focus on finding new investors to accelerate Bitstamp’s growth and provide new products and services to retail and institutional crypto customers. Interestingly, Ripple acquired a minority stake in Bitstamp in early 2023, with Novogratz’s Galaxy acting as an advisor. Founded in 2011 in Slovenia, Bitstamp is the world’s longest-running cryptocurrency exchange.
Key points:
– Bitstamp is partnering with Galaxy Digital Holdings to seek funding for its global expansion plans.
– The company aims to expand its presence in the Asian and UK markets and launch derivatives trading in Europe.
– Ripple acquired a minority stake in Bitstamp in early 2023, with the help of Galaxy Digital Holdings.
– Bitstamp is currently the world’s seventh-largest cryptocurrency exchange with a trading volume of $154 million in a 24-hour period.
– The company was founded in 2011 in Slovenia and was acquired by NXMH, an investment company owned by South Korean conglomerate NXC.
Hot Take
Bitstamp’s plan to go global and expand into new markets shows the continued growth and potential of the cryptocurrency industry. By partnering with Galaxy Digital Holdings and seeking new investors, Bitstamp aims to provide innovative products and services to both individual and institutional crypto customers. The acquisition of a minority stake by Ripple further highlights the confidence and interest of major players in supporting Bitstamp’s growth. As the world’s seventh-largest cryptocurrency exchange, Bitstamp’s expansion could have a significant impact on the global crypto market.
By
By
By
By