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Bitstamp is raising funds to expand services in Asia and Europe

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Bitstamp seeks to expand the number of markets it serves

Bitstamp, one of the oldest cryptocurrency exchanges, revealed that it is currently in talks with investors to raise new funds.

This is according to Bitstamp CEO Jean-Baptiste Graftieaux. The CEO told Bloomberg that the cryptocurrency exchange started the fundraising process a few weeks ago, with Galaxy Digital Holdings acting as its advisor.

The cryptocurrency exchange will use the funds to expand its operations. Bitstamp wants to launch its derivatives trading service in Europe next year and will also expand the number of markets it serves in Asia. The company will also expand its operations in the UK,

Commenting on the latest cryptocurrency news, Jean-Baptiste Graftieaux stated that;

“Bitstamp is not for sale and we are not actively looking to sell the company. Our current and sole priority is raising money through strategic investors to accelerate Bitstamp’s growth by providing new products and services to institutional and retail cryptocurrency clients.”

Bitstamp has been expanding its business into the crypto space in recent months. In June, Bitstamp was registered as a cryptocurrency company by the UK’s Financial Conduct Authority (FCA).

In doing so, Bitstamp has joined other platforms such as eToro, Revolut and Moonpay in the FCA’s list of companies that comply with money laundering, terrorist financing and transfer (MLR) regulations.

Bitstamp is a UK-based cryptocurrency exchange and has been around since 2011.

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