• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news

NXC Makes “Strategic, Long-Term Investment” in Crypto, Acquires Bitstamp

newsbtc by newsbtc
2 years ago
in Cryptocurrency news, Bitcoin, Cryptocurrency Technology
Reading Time: 2min read
Bitstamp
Advertisement

Popular cryptocurrency exchange Bitstamp has been acquired by South Korean NXC Corporation for an undisclosed sum in what the company is calling a “strategic, long-term investment” into the cryptocurrency space.

Bitstamp Acquired by Nexon Parent Company

Luxembourg-based cryptocurrency exchange Bitstamp confirmed today that it has been acquired by Belgium-based investment firm NXMH in a deal that was signed into effect on October 25.

Neither party has disclosed the price tag related to the acquisition; however, reports suggest that the deal sees NXMH receiving an 80% stake in Bitstamp, while Nejc Kodrič, co-founder and CEO of the exchange, will retain a 10% stake. The Dan Morehead-led crypto investment company Pantera Capital also sold a portion of their ownership in Bitstamp to NXMH, but retained a 6% stake.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Investment company NXMH is a subsidiary of South Korean conglomerate NXC Corporation, which is also the parent company of video game giant Nexon Co., Ltd. Rumors first circulated back in April that Nexon was interested in potentially acquiring Bitstamp, but Nexon said at the time the company did “not have any plans to link cryptocurrencies with our game business.”

In July, some business filings were discovered that appeared to link the NXC-owned NXMH to Bitstamp, after the company registered Bitstamp Holdings N.V. earlier this year. Despite signs pointing to discussions between the two companies dating back as far as April 2018, Kodrič said the “sale wasn’t planned,” and that “Bitstamp started to get approached by buyers in the middle of last year.”

“There was no active effort to go around and solicit buyers,” Kodrič said, reports Reuters.

According to Kodrič, the firm had four different potential buyers, but decided to stick with NXMH because the exchange will be allowed to operate under its current roadmap, with little oversight or intervention from any NXC-owned subsidiaries.

Kodrič says that “NXMH shares our vision for the future of digital currencies,” and the acquisition supports Bitstamp’s “strategic growth initiatives.”

“We are now entering a new era in our company’s history, which has come a long way since it began seven years ago in a garage with two laptops and EUR 1000,” Kodrič added.

NXC also owns another South Korean cryptocurrency exchange, Korbit, which it acquired last year for $80 million. NXC aims to keep the two exchanges operating separately; however, plans on “generating synergies in a number of areas, including technology, research and development.”

On NXC’s website, it says it invests in “valuable digital ideas and technologies”. The firm clearly sees Bitstamp as such, calling it a “strategic, long-term investment”. Founded in 2011, cryptocurrency exchange Bitstamp was created to become an alternative to the infamous and now defunct Mt. Gox.

Featured image from Shutterstock.
Tags: bitstampNexonNXCNXMH
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
newsbtc

newsbtc

Related Posts

Bitcoin BTC BTCUSD

How An Ex-CIA Director Proved Bitcoin Use in Crime is Declining

1 hour ago
Ripple XRP XRPUSDT

XRP Above $2? Why DeFi Integration Could Be Game Changer

3 hours ago
Binance Coin Coinbase IPO

Coinbase Listing Sends Binance Coin (BNB), Exchange Tokens Soaring

3 hours ago
Bitcoin BTC BTCUSD

Bitcoin Funding Flips Bullish, But Are Liquidations Imminent?

4 hours ago
legal challenges

What Are the Legal Challenges That Crypto Faces and the Way Out?

4 hours ago
Fed Chair Says Still “Working on” Digital Dollar as China Pulls Ahead

Fed Chair Says Still “Working on” Digital Dollar as China Pulls Ahead

7 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
Bybit

Bybit

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Top ICOs

Student Coin

Student Coin

Review · Visit

Token sale

Holdefi

Holdefi

Review · Visit

Press Releases

Polkadex IDO Launches On Polkastarter on the 16th of April

April 13, 2021

Fast-Growing Exchange Bityard to Launch Its First Contest for Global Traders

April 13, 2021

Regtank Shortlisted As Finalist for Asia Fintech Awards 2021

April 13, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Invest BTC
  • Join STC ICO

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.