Bitstamp

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Bitstamp
Bitstamp logo.png
Founded 2011
Headquarters Luxembourg
Key People Nejc Kodrič, Co-Founder and CEO; Damijan Merlak, Co-Founder; Edward Kemp, CFO; Dan Morehead, Chairman of Bitstamp's Board of Directors
Employees 180
Products Cryptocurrency exchange
Twitter @Bitstamp
Facebook Bitstamp
Website Bitstamp

Bitstamp is a cryptocurrency exchange. Although the company is technically based in Luxembourg, the exchange is in London. The company also has an office in New York City.[1]

Background

Bitstamp was founded in 2011 in Luxembourg by Nejc Kodrič and Damijan Merlak. When the company started, it was funded by only €1,000 and run between a single server and two laptops, and it was based in a garage.[2]

Having first applied for registration in 2014, Bitstamp was recognized by Luxembourg as a virtual currency exchange in 2016. Pantera Capital, the specialist crypto and blockchain investment firm from San Francisco, is an investor in Bitstamp, according to Bitstamp's website. Bitstamp's chairman is Don Morehead, who is also chairman of Pantera.[3]

On August 20, 2018 Bitstamp joined bitFlyer USA, Bittrex, and Gemini to announce the formation of the Virtual Commodity Association Working Group.[4]

Sale to NXMH

In October, Bitstamp announced it had been acquired by NXMH, a Brussels-based private equity and investment firm and one of Bitstamp's earliest investors. According to Nejc Kodrič, Bitstamp took NXMH's offer so that NXMH could help Bitstamp expand globally, though Kodrič said the company had not been looking to sell at the time. Kodrič will remain the CEO of Bitstamp, and neither the company nor its customers' experience will change. Though NXMH also owns the South Korean exchange Korbit, Kodrič said that after discussing it internally, all three companies decided it would be best for Bitstamp and Korbit to remain separate companies, though they plan on sharing research, technology, and other resources.[5]

Technology

In November of 2018 the company selected Cinnober to provide software for its trading platform for cryptocurrencies. Cinnober replaced an in-house developed matching engine.[6]

Products and Services

Bitstamp offers trading of euros and U.S. dollars against bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin as well as crypto-to-crypto pairs.[7]

The CME Group includes price data from Bitstamp, along with Coinbase, ItBit, and Kraken, in its CME CF Bitcoin Reference Rate (BRR) and CME CF Bitcoin Real Time Index (BRTI).[8]

Key People

  • Nejc Kodrič - Co-Founder and CEO
  • Damijan Merlak - Co-Founder
  • Edward Kemp - CFO
  • Dan Morehead - Chairman of Bitstamp's Board of Directors

References