Exchange Acquisition Consolidates Finland's Bitcoin Market

Finland-based bitcoin broker Prasos has acquired a local bitcoin exchange to add to its range of services.

AccessTimeIconFeb 25, 2016 at 4:39 p.m. UTC
Updated Sep 11, 2021 at 12:09 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

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, 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.

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 ability to compete in the broader European exchange market, as well as in other regions, saying:

“We believe we can take on players like Coinbase etc, in more places than just Finland. We differentiate ourselves in one major way from all other major exchanges – we try to ask our customers as few questions as possible."

In the interview, Brade said his company began discussing an acquisition with the Coinmotion team in the spring of 2015.

Brade framed the acquisition as a means for Prasos to expand its services, with the exchange proving the ability to offer features it previously could not.

“Our service at Bittiraha is a simple form-based system with no accounts and no wallets, and some users definitely prefer that," he explained. "But investor type users want accounts, wallets, ability to store EUR and BTC with us and high security (vault service), and we can offer all of that with Coinmotion.”

Image via Shutterstock


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.