Ripple President Explains Bitstamp Investment

Published on:

Last Updated on May 27, 2023 by Bitfinsider

The recent acquisition of a stake in the European cryptocurrency exchange Bitstamp, according to Ripple president Monica Long, will help expand the company’s international presence and diversification beyond payments.

“Ripple has a strong balance sheet, and we are actively seeking opportunities to continue expanding the business outside the U.S. and beyond payments,” Long told The Block. Pantera, a crypto venture capital firm, sold the company an undisclosed stake in Bitstamp. Earlier this month, Galaxy Digital Holdings, which advised Pantera on the transaction during the first quarter of the year, disclosed the news.

“Like Ripple, Bitstamp has a lengthy history in the cryptocurrency industry. Long stated that they are a reputable and prominent exchange, particularly in their enterprise-grade and institutional offerings. As they have been a valuable collaborator to Ripple, we were thrilled to have the opportunity to invest in their business and strengthen our relationship.

Long stated that Ripple collaborates with a number of global crypto exchanges, including Bitstamp, to enhance the utility of its payments product with features such as fiat on/off ramps and crypto custody service integration. The CEO of Bitstamp, Jean-Baptiste Graftieaux, told The Block that Ripple and Bitstamp have had a partnership since 2017.

Graftieaux stated, “We are thrilled to take this next step to be able to invest jointly in making the future of crypto even more secure, dependable, and accessible to institutions around the world.”

How to buy or trade XRP on ProEX

You can buy or trade XRP on ProEX. As ProEX frequently holds campaigns and events, you should check out its event page here to see if you can participate and win rewards as you trade.

On ProEX, you can trade XRP as a spot pair (XRP/USDT) in 3 simple steps:

  1. Sign up and register an account on ProEX 
  2. Buy USDT via ProEX One-click Buy 
  3. Trade XRP/USDT at ProEX Spot

Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.