Fintech startup Ripple has become the owner of a minority stake in the Bitstamp cryptocurrency exchange. The seller was Pantera Capital, according to Galaxy Digital, which brokered the deal.
According to the venture firm, agreements were reached in the first quarter of 2023.
Terms are not disclosed.
On May 9, 2023, Galaxy Digital announced in a press release on its first quarter financial results that it had become an advisor to Pantera Capital on a potential sale of its stake in Bitstamp to Ripple Labs.
The venture capital firm invested $10 million in the bitcoin exchange in March 2014. The size of the share and its value are unknown.
Recall that in May 2023, a fintech startup announced the takeover of the custodian Metaco. Thanks to the purchase, Ripple will be able to offer customers tools for storing, issuing and settling with tokenized assets.
A month earlier, Bitstamp introduced a large cap coin lending service targeting select markets in Europe, Hong Kong and the UAE.
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