{"id":188026,"date":"2018-10-29T14:00:11","date_gmt":"2018-10-29T18:00:11","guid":{"rendered":"https:\/\/insidebitcoins.com\/news\/nxc-makes-strategic-long-term-investment-in-crypto-acquires-bitstamp\/188026"},"modified":"2021-07-27T19:08:28","modified_gmt":"2021-07-27T23:08:28","slug":"nxc-makes-strategic-long-term-investment-in-crypto-acquires-bitstamp","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/nxc-makes-strategic-long-term-investment-in-crypto-acquires-bitstamp","title":{"rendered":"NXC Makes \u201cStrategic, Long-Term Investment\u201d in Crypto, Acquires Bitstamp"},"content":{"rendered":"

 <\/p>\n

Popular cryptocurrency exchange Bitstamp has been acquired by South Korean NXC Corporation for an undisclosed sum in what the company is calling a \u201cstrategic, long-term investment\u201d into the cryptocurrency space.<\/span><\/p>\n

Bitstamp Acquired by Nexon Parent Company <\/span><\/h2>\n

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

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 Kodri\u010d, 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.<\/span><\/p>\n

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<\/a>, but Nexon said at the time the company did \u201cnot have any plans to link cryptocurrencies with our game business.\u201d<\/span><\/p>\n

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, Kodri\u010d said the \u201csale wasn\u2019t planned,\u201d and that \u201cBitstamp started to get approached by buyers in the middle of last year.\u201d<\/span><\/p>\n

\n

\u201cThere was no active effort to go around and solicit buyers,\u201d Kodri\u010d said, reports Reuters<\/a>.<\/span><\/span><\/p>\n<\/blockquote>\n

According to Kodri\u010d, 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. <\/span><\/p>\n

Kodri\u010d says that \u201cNXMH shares our vision for the future of digital currencies,\u201d and the acquisition supports Bitstamp\u2019s \u201cstrategic growth initiatives.\u201d<\/span><\/p>\n

\n

\u201cWe are now entering a new era in our company\u2019s history, which has come a long way since it began seven years ago in a garage with two laptops and EUR 1000,\u201d Kodri\u010d added.<\/span><\/p>\n<\/blockquote>\n

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 \u201cgenerating synergies in a number of areas, including technology, research and development.\u201d<\/span><\/p>\n

On NXC\u2019s website, it says it invests in \u201cvaluable digital ideas and technologies\u201d. The firm clearly sees Bitstamp as such, calling it a \u201cstrategic, long-term investment\u201d. Founded in 2011, cryptocurrency exchange Bitstamp was created to become an alternative to the infamous and now defunct Mt. Gox.<\/span><\/p>\n

Featured image from Shutterstock.<\/pre>\n
 <\/p>\n
The post NXC Makes \u201cStrategic, Long-Term Investment\u201d in Crypto, Acquires Bitstamp<\/a> appeared first on NewsBTC<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"
  Popular cryptocurrency exchange Bitstamp has been acquired by South Korean NXC Corporation for an undisclosed sum in what the company is calling a \u201cstrategic, […]<\/a><\/div>","protected":false},"author":1307,"featured_media":188028,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-188026","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news"],"acf":[],"yoast_head":"\nNXC Makes \u201cStrategic, Long-Term Investment\u201d in Crypto, Acquires Bitstamp - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"Popular cryptocurrency exchange Bitstamp has been acquired by South Korean NXC Corporation for an undisclosed sum.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/188026\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NXC Makes \u201cStrategic, Long-Term Investment\u201d in Crypto, Acquires Bitstamp - 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