Bitstamp Seeks Funds for Asia and Europe Expansion

Updated: 18 August 2023

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Bitstamp, a Luxembourg-based cryptocurrency exchange, is in the process of raising funds in a bid to expand its business in Asia and Europe

The news comes from Jean Baptiste Graftieaux, Bitstamp CEO, who Bloomberg recently interviewed.

Advising this fundraising, which began in June 2023, is Global Digital Holdings, the same firm responsible for advising Pantera, which sold its minority stake in Bitstamp to Ripple in May this year.

Curbing all fears, people may have about Bitstamp, Jean added that Bitstamp is not for sale and they are not looking to sell the company.

According to Jean Baptiste, the company’s current priority is to find strategic investors to accelerate Bitstamp’s growth by offering new products and services to retail and institutional crypto customers.

These funds will reportedly be used to launch licensed derivatives trading in Europe and to expand in the Asian markets.

Bitstamp’s expansion plans are similar to other cryptocurrency exchanges that, after surviving the crypto winter of 2022, have engaged in deals to strengthen their status in other countries before the next boom. Crypto.com, for instance, has recently partnered with LINE Xenesis to drive crypto adoption in Japan.

Bitstamp Now World’s Seventh Largest Cryptocurrency Exchange – CoinMarketCap

Bitstamp was founded in 2011 and soon became one of the leading places for Bitcoin trading as an alternative to Mt Gox. Mt Gox collapsed three years later in 2014, which led BitStamp to gain more customers.

According to the latest data by CoinMarketCap, Bitstamp’s spot trading volume in the last 24 hours is $133.5 million. It is now the world’s seventh-largest cryptocurrency exchange, serving over 4 million customers in 100 countries.

Additionally, the exchange has been recently named as one of the nominees in the Best Exchanges category for the Hedgeweek APAC Digital Assets Awards.

🎉 We've been shortlisted for the Hedgeweek APAC Digital Assets Awards 2023 in Best Exchange category!

Your support made this possible, and we thank you! 🙌 Cast your vote and support the exchange of your choice 👉 https://t.co/YLg7ytkvMh

Good luck to all nominees! 🤞 pic.twitter.com/dxfeReFVQm

— Bitstamp (@Bitstamp) August 8, 2023