Ripple explained the reasons for buying Bitstamp

Ripple has bought out a stake in the Bitstamp cryptocurrency exchange. According to the cryptoproject, the purchase will allow for the expansion of global presence in the market. The project will also be able to scale its capabilities. This was reported by President Monica Long.

More about this

Recently, it was reported that Ripple acquired Pantera Capital's stake in the above-mentioned crypto exchange. Galaxy Digital was the intermediary. The participants reached agreements at the beginning of the year. However, the details of the transaction remain secret.

The President said that Ripple has a strong balance. Therefore, the company is looking for opportunities to expand its geography and capabilities. The project wants to go beyond payments. In her opinion, this way the company will strengthen its position even more.

Long also noted that the crypto exchange has a long and stable history in the cryptocurrency market. At the same time, it focuses on large investors.

She further explained that they were valuable partners for the company. Therefore, they are happy to invest in their company, thereby deepening their cooperation.

The GRIN4 ecosystem

We have created a bot to make money on crypto exchanges. You set the settings, and he trades 24/7. Manage all assets from one service: with your own hands or with the help of algorithmic trading. Anonymously. Simply. Stress-free.