30 October 2018

Taylor Wessing completes 80 per cent sale of Bitstamp

EU cryptocurrency exchange Bitstamp sale is a landmark

International law firm Taylor Wessing has just completed the 80% sale of Bitstamp to Brussels based investment firm, NXMH. Bitstamp has over three million registered customers. Bitstamp is the world’s longest standing cryptocurrency exchange. Measured by volume, Bitstamp is also the largest cryptocurrency exchange in the EU.

Exceptional achievement

The 80% sale of Bitstamp to NXMH is exceptional in a market where these kinds of deals are already extremely rare. Regulatory approval is still required before the deal can go through.  

Adding value

Bitstamp co-founder and CEO Nejc Kodric will retain a minority ownership interest in Bitstamp. He will also continue as CEO.  Pantera Capital Management LP, who owned a portion of Bitstamp after making a $10 million investment in the company in 2014, will also retain a 6% stake in Bitstamp. Bitstamp co-founder and CEO Nejc Kodric pointed out that Taylor Wessing acted for Panters on its original investment into Bitstamp in early 2014. At that time Pantera recommended that Taylor Wessing act for Bitstamp moving forward. Taylor Wessing have clearly proved their mettle from start-up phase through to this exit to NXMH.