The Galaxy Digital team clarified that it advised Pantera on the sale of its stake in Bitstamp. It also became known that Pantera Capital previously had investments in both Ripple and Bitstamp. And Bitstamp itself once collaborated with Ripple.
So far, neither Ripple nor Bitstamp have provided any official comment regarding the purchase. The media suggest that the deal is related to Ripple’s intentions to develop its Liquidity Hub and ODL services. The day before, the company said it was going to spend up to $1 billion of its cash reserves on the purchase and takeover of other companies.
In May, Ripple acquired the Swiss startup Metaco, which provides cryptocurrency storage services. The deal amounted to $250 million.
Earlier, Ripple announced the launch of a platform for creating and making transactions with government central bank digital currencies (CBDC).
Source: Bits
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