Coinmerce and BLOX Join Forces for European Expansion
Coinmerce has acquired a majority stake in its industry peer BLOX. The acquisition discussions gained momentum following an incident at BLOX, which has been resolved through the acquisition. The collaboration provides significant synergies for joint expansion in Europe.
Coinmerce and BLOX are two of the most prominent crypto companies in the Netherlands, each with its own brokerage platform. Given the similarities between the platforms, the companies saw it as a logical step to collaborate, benefiting from synergies in technology and achieving economies of scale.
BLOX recently faced an embezzlement incident by an employee. The employee was immediately suspended, and a report was filed with the police. The acquisition has resolved the temporary shortage caused by the incident. No further details can be shared while the police investigation is ongoing.
In addition to resolving the shortage, Coinmerce has acquired a 51% majority stake in BLOX. Both platforms will continue to operate under their own brand names, while the collaboration will be intensified.
Jaap de Bruijn, CEO of Coinmerce, stated: "This collaboration will bring many benefits to users. For instance, BLOX users can soon expect a broader range of investment options. At the same time, Coinmerce has immediately lowered its trading fees to match those of BLOX."
Mike Hutting, CEO of BLOX, looks forward to the success both companies will achieve together. "With the upcoming European crypto regulations, MiCAR, this is the perfect time to join forces, with a clear focus on growth, economies of scale, and a joint European expansion," said Hutting.
With the acquisition of BLOX, Coinmerce is taking the next step in its growth ambitions. Previously, Coinmerce acquired the customers of Binance & BUX and added Coinmerce Capital (formerly Icoinic) to its portfolio of companies.
Frequently Asked Questions
Rest assured, nothing will change for you in your daily use of BLOX. The platform will continue to operate as usual, and you can keep trading through our app. In fact, in the future, you will have access to even more investment opportunities thanks to our collaboration with Coinmerce!
BLOX and Coinmerce share the same ambition: we want to offer our users the best experience when it comes to cryptocurrency investments. By joining forces, we can operate more efficiently and offer you more possibilities in the future. It is a logical step for us to grow together, especially with the upcoming European regulations in mind.
Unfortunately, we recently encountered an embezzlement incident involving an employee. This person was immediately suspended, and we filed a report with the police. The investigation is still ongoing, so we cannot share more details at this time. Fortunately, the acquisition by Coinmerce has resolved the financial impact of this incident, so you don't need to worry about your funds at BLOX.
For now, BLOX and Coinmerce will continue to operate as separate platforms. We are increasingly collaborating, but BLOX will remain BLOX, and Coinmerce will remain Coinmerce. You can continue trading through the BLOX app.
This collaboration brings several great advantages. For example, you will soon have access to a wider range of investment options. We are also working on technological improvements to make the BLOX app even more user-friendly. We're doing everything we can to provide you with an even better experience!
The European crypto legislation (MiCAR) introduces new rules for crypto companies, and together with Coinmerce, we are stronger in meeting these requirements. This means we are well-prepared for the future, allowing you to continue investing confidently through BLOX.
No. Both accounts will remain separate, so you can continue using them as you normally would.
Yes, absolutely! Our support team remains the same, so you can continue to count on the friendly and fast assistance you are used to. Do you have any questions? Feel free to reach out to us, we are happy to help!