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 <p>Jean-Baptiste Graftieaux, <a rel="noopener noreferrer nofollow" title="Bitstamp" href="https://thebittimes.com/tag/bitstamp.html">Bitstamp</a>’s global chief executive officer said that they started the fundraising process in late June under the guidance of Mike Novogratz’s Galaxy Digital Holdings. The exchange plans to use the funds to expand its services in Europe and Asia.</p>  
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 <p><a rel="noopener noreferrer nofollow" title="Bitstamp" href="https://thebittimes.com/tag/bitstamp.html">Bitstamp</a> is planning to launch crypto derivatives trading in Europe next year while expanding in several other markets in Asia. Besides, it also plans to increase its operations in the U.K. Speaking on the development, Graftieaux said:</p> 
 <blockquote> 
  <p>“<a rel="noopener noreferrer nofollow" title="Bitstamp" href="https://thebittimes.com/tag/bitstamp.html">Bitstamp</a> is not for sale, and we are not actively looking to sell the company. Our current and exclusive priority is to raise money through strategic investors to accelerate <a rel="noopener noreferrer nofollow" title="Bitstamp" href="https://thebittimes.com/tag/bitstamp.html">Bitstamp</a>’s growth by providing new products and services to retail and institutional crypto customers.”</p> 
 </blockquote> 
 <p>Previously, Galaxy Digital has also served as an adviser to Pantera Capital. Earlier this year, Pantera sold its minority stake to Ripple.</p>  
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 <h3 id="a-rel-noopener-noreferrer-nofollow-title-bitstamp-href-https-thebittimes-com-tag-bitstamp-html-bitstamp-a-s-strong-market-presence"><a rel="noopener noreferrer nofollow" title="Bitstamp" href="https://thebittimes.com/tag/bitstamp.html">Bitstamp</a>’s Strong Market Presence</h3>  
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 <p>Based out of Luxembourg, the crypto exchange <a rel="noopener noreferrer nofollow" title="Bitstamp" href="https://thebittimes.com/tag/bitstamp.html">Bitstamp</a> was established in 2011. It was a significant platform for trading Bitcoin, competing with Mt. Gox. Today, it is the seventh-largest exchange globally, with around $126 million in trading volume within 24 hours, according to Coinmarketcap.com data. In 2018, European investment firm NXHM acquired <a rel="noopener noreferrer nofollow" title="Bitstamp" href="https://thebittimes.com/tag/bitstamp.html">Bitstamp</a>.</p> 
 <p><a rel="noopener noreferrer nofollow" title="Bitstamp" href="https://thebittimes.com/tag/bitstamp.html">Bitstamp</a> also has a valuable license called BitLicense, which allows its American unit, <a rel="noopener noreferrer nofollow" title="Bitstamp" href="https://thebittimes.com/tag/bitstamp.html">Bitstamp</a> USA, to operate in New York state. This license has been essential for its success in the US, where it gained market share this year, while other exchanges like Binance US experienced a decline in market share.</p> 
 <p>More and more players are willing to grab a share of the crypto derivatives market. This is especially true with the collapse of the crypto exchange FTX, which was a dominant player along with Binance. Other big players like Gemini and Coinbase launched their derivatives exchanges offshore, earlier this year.</p> 
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Crypto Exchange Bitstamp Raises More Funds for Expansion

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