Ripple Says it Bought Bitstamp to Diversify its Business

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Monica Long, the president of fintech company Ripple, has stated that the acquisition of a stake in crypto exchange Bitstamp will assist in Ripple’s expansion of its global presence and venturing beyond payments.

This agreement was made between Ripple and Pantera Capital in the first quarter of 2023, with Galaxy Digital as the intermediary.

Long stated that Bitstamp has a long and reputable background in the crypto industry emphasizing corporate and institutional customers, and Ripple is delighted to invest in their business and strengthen the partnership.

Further, Long clarified that Ripple collaborates with multiple crypto platforms around the world, providing services such as fiat-to-crypto conversions, as well as the integration of custodial services.