Ripple is owned by the American investment firm Pantera Capital. Bitstampannounced the acquisition of its shares.
This strategic move reflects Ripple’s trend of expansion, which has been proven by its continued growth-oriented efforts. investment management firm Galaxy Digital Holdings , included this development in its last quarterly report. According to the report, Galaxy Digital advised Pantera to sell its Bitstamp shares to Ripple in the first quarter of this year. President and CIO of Galaxy Digital Christopher Ferraroalso highlighted this move at this month’s shareholder update conference.
Details About the Purchase Are Not Certain Yet
According to a report published by Bloomberg in 2014 Pantera Capital , made a substantial investment of up to $10 million in Bitstamp in 2013, just before the UK-based exchange gained significant recognition. However, Pantera decided to sell its shares to Ripple ten years later.
Having significant influence within the XRP community WrathofKahneman As noted, the exact reason for the sale remains unclear. Underlining the purchase, WrathofKahneman pointed out the point of view of Galaxy Digital, stating that the sale was not seen as an acquisition. This has led to speculation as to whether Ripple is acting strategically to strengthen its Liquidity Center (LH) solution or serve its On-Demand Liquidity (ODL) goals.
However, it should be noted that Bitstamp is one of Ripple’s longstanding partners for On-Demand Liquidity (ODL).
In addition, as highlighted in previous reports by The Crypto Basic, Bitstamp recently launched EUR-backed IOUs into the network in January. XRP Ledger expanded its services. The Bitstamp stock purchase marks another strategic move by Ripple to strengthen its offerings. However, specific details on the acquisition target are currently limited. Ripple’s digital asset custody firm to expand into custody and tokenization business recently metacoLet’s also remind you that you bought the .
Ripple CEO Brad Garlinghouse In its previous statements, the company had announced that it had up to $1 billion in reserves that could be used for these expansion initiatives. The firm continued to grow and expand despite its long legal battle with the US SEC.
