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belgian Bitcoin News BitStamp buys Cash Deal Firm Investment

Belgian Investment Firm Acquires Exchange BitStamp In Cash – DC Forecasts

The cryptocurrency exchange Bitstamp has been officially acquired by a Belgian investment firm. The digital currency news spread everywhere this Monday and was originally reported by Reuters.

What’s most noticeable in the process was the fact that the Belgian firm used cash and made the deal on October 25th, four days before sharing the full terms. The CEO then told Reuters that in 2016, Bitstamp was valued at $60 million which was up from $39 million in 2014.

NXMH is the name of the Belgian family investment holding firm. With more than 2 billion euros in assets under management, it makes European consumer and tech investments. According to its LinkedIn profile, the firm has a “focus on majority buy-outs” and is a subsidiary of the Korea-based media giant NXC Corp., which bought a 65.19% stake in the South Korean crypto exchange Korbit a year ago.

As Reuters reports, Bitstamp and Korbit will be operated independently. Currently, NXMH has a 80% stake in Bitstamp. The CEO of Bitstamp, Nejc Kordic, revealed that he will retain his 10% ownership interest and remain under the CEO position in the company.

The co-founder, Damian Merlak, has reportedly sold all of his 30% stake in the exchange in the NXMH deal. According to Kordic (the CEO), Merlak has “not been active since 2015” but worked alongside with him to found the exchange “out of a garage in Slovenia” with several laptops, one server as well as thousand euros in funds.

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