A nationwide marketing campaign accompanies the launch in order to improve its brand recognition in the U.S. However, Bitstamp is also planning to hire executive-level leaders, believing that these will help it lock in long-term clients. The exchange has also worked with US-based Silvergate Bank, known for innovation in the cryptocurrency space, to launch new product offerings for its U.S. customers. More than 10% of Bitstamp’s AUM come from the U.S. Source finance.yahoo.com
Adjusting to the new environment is expected to go smoothly given Bitstamp’s pre-existing relationships and infrastructure. The core software and hardware on which Bitstamp’s trading platform is built matches that of NASDAQ’s, and gives it trading speed capabilities that U.S. markets are accustomed to. “We have been operating for a while now but we’re just doubling down on those efforts with continued headcount, investment and infrastructure and product roadmap that is a little bit targeted towards both, US retail and institutional clients,” said U.S. Head of Bitstamp Hunter Merghart in an interview.
In the past, Bitstamp has processed over $3 billion in trade value in a single day without the need for downtime and averages around $1 billion per day. The company’s near-term U.S. engagement is a four-pronged strategy that includes building key institutional partnerships, establishing digital investment infrastructure, exploring the expansion of its institutional custody and derivates offerings, and hiring U.S.-based talent.
The News Highlights
- EU-based Bitstamp Crypto Exchange officially expands to the US
- Check the latest News news updates and information about business, finance and more.
For Latest News Follow us on Google News
- Show all
- Trending News
- Popular By week