NXMH Acquires Crypto Exchange Bitstamp

Total News – Atlanta, GA 10/30/2018. Bitstamp, EU's largest crypto trading platform by trading volume, has announced on October 29 that it has been acquired by NXMH.

NXMH is a Belgium-based investment company and owned by South Korean Conglomerate NXC. The South Korean holding company also owns the rival cryptocurrency exchange Korbit.

Bitstamp and Korbit will operate independently.

Nejc Kodrič, CEO of Bitstamp, said that Bitstamp has been approached by companies for quite some time. They finally decided to sell the company to NXMH because of the "quality of the buyer, the quality of the offer, and the fact that the industry is at a point where consolidation makes sense."

NXMH acquired 80 percent stake in Bitstamp. Kodrič will retain 10 percent ownership and will remain as the exchange's CEO. Damien Merlak, Kodrič's co-founder, has sold all his 30 percent stake in the deal.

According to Fortune, the financial deal was not disclosed but it was rumored to be around $400 million.

Bitstamp was cofounded by Slovenian Nejc Kodrič with just 1,000 euros seven years ago.