Bitstamp Eyes Global Expansion, Seeks to Raise Funds

Bitstamp, one of the oldest and most well-known cryptocurrency exchanges in business today, is reported to be raising fresh funds in order to introduce derivatives exchanges in Europe next year and boost many of its currently operated regions in Asia.

Bitstamp Began Financing Tasks in June

According to Bloomberg, Bitstamp began the financing task in late June, with Michael Novogratz’s Galaxy Digital Holdings serving as a consultant.

According to Bitstamp’s global CEO Jean-Baptiste Graftieaux, the firm is currently solely concentrating on obtaining funds to grow its capabilities for retail and institutional crypto clients. “Bitstamp is not for sale,” he stressed, “and we are not actively looking to sell the company.”

The development aligns with the company’s worldwide expansion goals, which were disclosed in 2018 when it was acquired by South Korean NXC-backed NXMH. 

Not for Sale

Back then, Bitstamp co-founder Nejc Kodri stated that both he and fellow Bitstamp co-founder, Damijan Merlak, “were not looking to sell” and “definitely not looking for investment” given that they “didn’t need the capital.” Nonetheless, Kodri took advantage of the chance to make money out of the majority of his Bitstamp stock while holding 10% and continued to be the CEO.

Since its establishment in 2011, the Luxembourg-based exchange has grown its European clientele to become among the most popular options for bitcoin traders worldwide. The company has branches all around the world and offers bitcoin trading solutions to clients all over the world.

Bitcoin Seeks to Comply with Regulations

According to CoinGecko data, Bitstamp has emerged as one of the world’s largest crypto-currency exchanges, with around $127 million in trade volume over a recent 24-hour period.

The exchange made headlines last April after customers were asked to add information such as their source of wealth. Following its registration as a virtual assets service provider (VASP) in Italy, the company also obtained a license for the Spanish market in November.