👀Bitstamp plans to expand its derivatives products in Europe next year with fresh capital raised through its ongoing fundraising efforts.
Bitstamp, one of the world’s longest-running cryptocurrency exchanges, is moving forward with its global expansion ambitions, reportedly working to raise new funds to scale operations.
Crypto exchange Bitstamp started the fundraising process in late June, with Michael Novogratz’s Galaxy Digital Holdings acting as an adviser, BloombergThe firm plans to use the raised capital to launch derivatives trading in Europe in 2024 and expand several of its served markets in Asia. Bitstamp is also looking to scale its services in the United Kingdom, the report notes.
Bitstamp’s global CEO Jean-Baptiste Graftieaux reportedly said that the company is now exclusively focused on raising money to expand the services to retail and institutional crypto clients. He added:The crypto exchange did not immediately respond to Cointelegraph’s request for comment.in the first quarter of 2023. Novogratz’s Galaxy also acted as an adviser on the deal, which was publicly announced in late May.
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