Bitstamp, a Luxembourg-based digital currency exchange, has already raised over $1.3 million in the ongoing crowdfunding campaign on the BnkToTheFuture platform, CoinDesk reported.

With this, the company has already exceeded its goal weeks before the drive is scheduled to end. It is selling shares totaling 2% of total equity in the campaign that still has 20 days to go.

Co-founder and CEO Nejc Kodrič told CoinDesk that the amount raised will be used for expanding into new markets, as well as offering new services to the existing trading platform.

"Our successful BnkToTheFuture campaign will enable us to focus more of our attention on new, unexplored markets and to implement some exciting new features (like new trading pairs, for example) and functionality to our site. We will continue to put our users first and make sure that our platform offers advanced solutions in a user-friendly manner”, he said.

In April 2016, Bitstamp announced that Luxembourg granted it a license as a fully regulated Payment Institution, making it the first fully licensed bitcoin exchange in Europe.

According to Kodrič, the success of the latest funding drive validates the exchange’s approach and puts it on a path to continued growth.

“We are extremely grateful for the success of our BnkToTheFuture campaign and remain thankful to every investor or client, whether it be new or old, for believing in Bitstamp and seeing our potential,” he said.