25 Feb '16, 4pm

Exchange Acquisition Consolidates Finland's Bitcoin Market

Exchange Acquisition Consolidates Finland's Bitcoin Market

Finnish bitcoin broker Prasos has acquired Helsinki-based digital currency exchange Coinmotion for an undisclosed sum. The acquisition of the exchange by Prasos – which operates a different bitcoin exchange called Bittiraha.fi, as well as a bitcoin ATM network in Finland – follows a trend of exchange consolidation in the past year. While Prasos, which has headquarters in Jyväskylä, Finland, declined to disclose the buy price, it say the cash deal involved the purchase of the Coinmotion platform along with its customer base. While none of the exchange staff will stay with the firm through the transition, Prasos indicated that some elements of the outgoing team may in future work on the platform on a contract basis. Coinmotion went live under the new management on 23rd February. International plans Prasos co-founder and CEO Henry Brade told CoinDesk the deal gives Prasos the...

Full article: http://www.coindesk.com/bitcoin-broker-prasos-acquires-fi...

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