Bitcoin Exchange Bitstamp Confirms Sale to Gaming Group NXC

Cryptocurrency exchange Bitstamp has been acquired by NXMH, an investment firm based in Belgium and owned by South Korean conglomerate NXC. In a deal signed last Thursday, the firm took a majority ownership stake in the exchange.

Bitstamp CEO Nejc Kodri? will retain a minority ownership stake and continue running the startup's operations.

Bitstamp backer Pantera Capital will also retain a 6 percent ownership stake in the exchange, according to statements, and Bitstamp will continue to operate independently.

NXMH's parent company, NXC, also owns the South Korean cryptocurrency exchange Korbit.

Public filings released earlier this year had linked NXC and Bitstamp.

Bitstamp's customers will not see any immediate change in services, Kodri? told CoinDesk.

During negotiations with NXMH, the investment firm essentially agreed with Bitstamp's goals, he said.

NXMH and Bitstamp will continue to work to "Bridge the gap between traditional finance and crypto," a goal that Bitstamp has been working toward for several years already, Kodri? said.

In a statement, NXMH investment manager Hendrik Ghys said, "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."

According to the companies, Bitstamp will focus on improving user experience, customer service, trading functions and other operations, as well as maintaining a secure trading environment.