Ripple explains why they bought Bitstamp

The acquisition of a stake in bitcoin exchange Bitstamp will help Ripple expand its global presence and go beyond payments. This was stated by the president of the fintech company Monica Long, writes The Block.

The other day it became known about the purchase of Ripple’s share of Pantera Capital in Bitstamp. Galaxy Digital acted as an intermediary. The parties reached an agreement in the first quarter of 2023. Terms are not disclosed.

“Ripple has a strong balance sheet. We are actively seeking opportunities to expand beyond the US and beyond payments as we further strengthen our position as a global leader,” Long said.

According to her, Bitstamp has a long and established history in the crypto industry with a focus on corporate and institutional clients.

“They were a valuable partner for Ripple [c 2017 года, по данным CEO биржи Жана-Батиста Графтье]. We welcomed the opportunity to invest in their business and deepen our partnership,” she explained.

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