Crypto exchange Bitstamp is bought by South Korean conglomerate

Last Thursday, the investment firm NXMH made a deal to buy a majority of the shares in the European cryptocurrency Bitsamp. NXMH is based in Belgium but owned by the South Korean conglomerate NXC, which also owns the Korean crypto exchange Korbit and the gaming company Nexon, Coindesk reports.

However, some of the previous owners will remain. For example, Bitsamp’s CEO Nejc Kodrič and former backer Pantera Capital will retain a minority ownership. Also, Kodrič will continue to run operations at the exchange.

“We see it as a strategic, long-term investment”

According to Hendrik Ghys, investment manager at NXMH, the acquisition of Bitstamp is part of a long-term plan.

“Bitstamp is one of the oldest and most-respected cryptocurrency exchanges and we see positive growth potential as the industry continues to evolve. We acquired Bitstamp because we see it as a strategic, long-term investment”, Hendrik Ghys said in a statement.

According to Bitsamp’s CEO Nejc Kodrič, the customers will not notice any immediate changes in the crypto exchange’s services, Coindesk reports.

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