Bitstamp begins fundraising to expand in Europe and Asia

One of the oldest cryptocurrency exchanges, Bitstamp, has begun fundraising to launch European derivatives in 2024 and to expand into Asian markets. This is reported by Bloomberg.

The company kicked off the fundraising process in late June, with Galaxy Digital Holdings acting as adviser.

“Bitstamp is not for sale, and we do not intend to do so. Our current and exclusive priority is to raise funds through strategic investors to accelerate growth by delivering new products and services to retail and institutional clients,” — said the exchange’s chief executive, Jean-Baptiste Graftye.

In addition, the trading platform plans a broader expansion into the UK market. The company has already entered into the British register of registered cryptocurrency firms.

Founded in 2011, Bitstamp is one of the oldest digital-asset exchanges. According to data from The Block Research, it accounts for 6.3% of trading volume among CEX.

Earlier in May 2023, it emerged that Ripple acquired a minority stake in Bitstamp from Pantera Capital. The fintech firm explained this decision as diversification of the business.

Earlier, the oldest exchange launched a lending service in Europe, Hong Kong and the UAE.