Ripple acquires Pantera’s stake in Bitstamp exchange

Ripple acquired the shareholding of the VC Pantera in Bitstamp earlier this year. The operation aims to strengthen the partnership between the blockchain firm and the crypto exchange Europe.

In the first quarter, Ripple made theacquisition of the part from Pantera in Bitstamp. The venture capital firm had led a funding round for the cryptocurrency exchange platform in 2014, according to data provided by Crunchbase.

The change was revealed through a statement issued by Galaxy earlier this month and indicating that the latter had advised Pantera in the sale of his participation in Bitstamp at Ripple Labs in the first quarter of 2023.

Thursday, on TheBlockRipple’s president, Monica Long, went back over the transaction and said that it would allow the company toincrease its international presence and to diversify.

Like Ripple, Bitstamp has a long and well-established history in the crypto industry. It is a trusted and leading exchange, particularly in its enterprise and institutional offerings.” stated the executive, without specifying details of the transaction and adding that Ripple and Bitstamp had already been partners for some time.

Earlier this year, the Luxembourg-based platform Bitstamp has been registered as a digital asset service provider with the French regulator AMF.

Recently, Ripple has acquired Metaco, the crypto custody service preferred by major financial institutions, for a cool $250 million.

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