New Horizons: ANX Acquires Justcoin
In a spectacular twist of events, Hong Kong-based cryptocurrency exchange ANX has just announced its acquisition of Norway’s Justcoin, further solidifying its foothold in the European Bitcoin market. Justcoin, which had recently been preparing to bid farewell due to operational hurdles, is now set to rise from the ashes like a cryptocurrency phoenix.
Justcoin’s Comeback
The Oslo-based exchange had previously announced its shutdown towards the end of October after a spat with Ripple and a financial service breakup with its local bank. A last-minute rescue deal with Dutch exchange Clevercoin was in the cards, but the people behind Justcoin decided it would be more prudent to prioritize customer funds over pursuing uncertain future operations.
On November 18, the exchange dropped a tweet that left Twitter buzzing with excitement: Justcoin was back under new management! Come November 24, the rejuvenated Justcoin would be making a grand return. A good reminder that in the world of cryptocurrencies, comebacks are just as common as market crashes.
Expanding the Product Line
ANX CTO Hugh Madden had some excitement of his own about this new partnership. In a press release, he stated,
“We have long recognized the vital role Europe has in the global cryptocurrency marketplace. The addition of Justcoin to the ANX portfolio broadens our global footprint and significantly increases our customer base.”
Just like that, the possibilities of collaboration have transformed this acquisition into a win-win scenario.
Bringing Innovation to Europe
One of the standout benefits coming from this merger is the introduction of ANX’s pioneering Bitcoin debit card to the European market. This trendy little piece of plastic can be used at ATMs in over 200 countries and supports 10 major fiat currencies, including everyone’s favorite, the euro. Talk about convenience!
A Seamless Transition
According to reports, the integration of technology between the two exchanges was a breeze. Within just a week, everything was up and running. While ANX now owns the rights to the domain and brand, Justcoin will keep its name and branding, allowing its customers to trade Ripple and Stellar thanks to the ANX order book. It’s sort of like a nice, cozy marriage between two entities, where each partner retains their own personality.
The Bigger Picture
This acquisition aligns with a broader trend among cryptocurrency exchanges in Europe, where operators are consistently striving to expand their services. Notably, Danish operator Coinify has been making moves to infiltrate various markets across the EU outlined in recent reports. It seems that in the rapidly evolving realm of digital currencies, growth is the name of the game.
What Lies Ahead?
The future looks optimistic for both ANX and Justcoin. As they step into the European spotlight, the eagerly awaited Bitcoin debit card rollout opens up new doors for convenience and innovation. The cryptocurrency landscape is ever-evolving, and this merger could serve as an invaluable template for others looking to combine forces in pursuit of success.
