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Prasos Announces Acquisition of Finnish Bitcoin Exchange Coinmotion

Last Updated March 4, 2021 4:47 PM
Joseph Bradley
Last Updated March 4, 2021 4:47 PM

Prasos, the leading Bitcoin brokerage in Finland, has announced the acquisition of the Bitcoin exchange service Coinmotion.

Coinmotion  of Helsinki “aims to provide a seamless platform for using Bitcoin to both consumers and vendors.” With the strategic acquisition, Prasos is positioning its service scope to be able to extend its offerings to ” regular people who want to safely invest in bitcoins and to better reach international markets.”

Henry Bade, CEO and Co-Founder of Prasos says of the acquisition, “Our company has concentrated purely on Bitcoin exchange services and our market area has mainly been Finland. Now we want to offer regular people an easy and safe way of storing bitcoins and expand our company to international markets. Adding Coinmotion to our service portfolio advances this goal significantly.”

Prasos has been in operation for 4 years and currently operates Bittiraha.fi, the largest Bitcoin-based service in Finland. The company also operates the largest BTM network in the Nordics called Bittimaatti . Additionally, Prasos is the leading manufacturer of physical Bitcoins marketed under the Denarium  brand name.

Further noted by Roni Bomberg, COO and CO-founder, is the growth targets this acquisition satiates. He says, “Our company has operated in the Bitcoin industry for 4 years which is a long time in the Bitcoin world. We have considerable experience in storing bitcoins safely and we are known as a reliable entity. Acquiring a service such as Coinmotion is a natural step forward for our company.”

As we continue to see the cryptocurrency industry grow, consolidation is to be expected. While an acquisition such as this may seem rather small, it is incredibly important to keep note. Considering press releases such as this within the larger context of the latest Bitcoin “hard fork” controversy makes for an intriguing and dynamic landscape. Those of us that participate in and follow the community should not be surprised. This is exactly what we signed up for.

Featured image from Shutterstock.