According to a letter from Nejc Kodric, CEO of Bitstamp, a cryptocurrency exchange based in Luxembourg, was acquired by a private equity and investment firm based in Belgium, NXMH. NXMH is the investment arm of NXC in South Korea, which invests in digital technologies and is the largest shareholder of Korean and Japanese gaming giants Nexon. NXC is also the owner of the currency of the crypto of South Korea, Korbit.
Surprisingly, Nathaniel Popper of the New York Times had already tweeted in March 2018 that Bitstamp would be sold to South Korean investors for $ 400 million. Although the financial terms of the acquisition were not disclosed, it turned out that Popper had been informed in March of this acquisition. This means that purchases take more than a year.
Bitstamp, according to the CEO, has often been approached by many “suitors”. “The reason we chose to sell the company is a combination of the quality of the buyer, the quality of the offer and the fact that the sector is at a stage where consolidation makes sense, an important factor. “By agreeing to sell, the mission, leadership and vision of the company remain the same,” writes Kodric in his letter.
Bitstamp will still be Bitstamp and Kodric will continue after the acquisition as CEO of the company. “We have the same opinion as NXMH: why change something if it works perfectly?” Said Kodric. He added that the exchange was “profitable from the first day,” according to a report.
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