Bitstamp, one of the world’s oldest cryptocurrency exchanges, is apparently trying to collect more capital to scale operations as part of its global expansion plans.
Bitstamp began its financing efforts in late June, with Michael Novogratz’s Galaxy Digital Holdings serving as an adviser, according to Bloomberg on Aug. 7.
The company intends to use the funds raised to establish derivatives trading in Europe in 2024 and to extend its presence in numerous Asian markets.
According to the article, Bitstamp is also trying to expand its services in the United Kingdom.
According to Bitstamp’s worldwide CEO Jean-Baptiste Graftieaux, the company is now solely focused on obtaining funds to expand its services to retail and institutional crypto clients.