Cryptocurrency payment system platform Ripple acquired a stake in Pantera Capital from cryptocurrency exchange Bitstamp.
This was reported by Galaxy Digital, which was involved in the deal. 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 on the purchase.
The media speculate that the deal is related to Ripple’s intentions to develop its Liquidity Hub and ODL services.
The day before the company said it would spend up to $1 billion of its cash reserves on acquisitions and takeovers of other companies.
In May, Ripple acquired Metaco, a Swiss startup that provides cryptocurrency storage services. The amount of the deal was $250 million.
Earlier, Ripple announced the launch of a platform for creating and transacting public central bank digital currencies (CBDC).