EU cryptocurrency exchange Bitstamp officially goes to the US

Bitstamp, a Luxembourg-based crypto exchange considered one of the oldest in the world, has officially opened in the United States.

The extension uses the recent exponential growth of Bitstamp in the USA... This includes a 570% increase in new US customers since early 2021, a nearly 300-fold increase in US managed assets (AUM) and more than XNUMX% growth in US customer activity and use of the Bitstamp mobile app.

The company's upcoming U.S. engagement is a four-part strategy that includes building key institutional partnerships, building a digital investment infrastructure, exploring opportunities to expand institutional trusteeship and offering derivatives, and recruiting U.S. talent.

"We've been operating [in the US] for a while now, but we're just doubling down on those efforts while maintaining headcount, investments, infrastructure and a product roadmap that's a bit geared towards both retail and institutional clients in the US," said In an interview head of Bitstamp Hunter Mergart in the USA.

The adaptation to the new environment is expected to proceed smoothly given Bitstamp's existing relationships and infrastructure. The core software and hardware on which the Bitstamp trading platform is built is the same as the NASDAQ software and gives it the trading speed capabilities that the US markets are used to.

In the past, Bitstamp processed over $ 3 billion in trade value in a single day with no downtime and averaged around $ 1 billion per day.

The exchange also worked with US-based Silvergate Bank, known for its cryptocurrency innovations, to launch new product offerings for its US clients. More than 10% of Bitstamp's own funds come from the United States.

A nationwide marketing campaign accompanies the launch to increase brand awareness in the United States. However, Bitstamp also plans to hire senior executives, believing that this will help it secure long-term clients.

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