The growth of cryptocurrencies over the past year has prompted several companies to enter the market and existing ones to expand their services. Bitstamp is the latest cryptocurrency company to expand its services to customers in the United States.
Bitstamp now in the United States
Luxembourg-based cryptocurrency exchange, Bitstamp, has officially expanded its services in the United States. This comes after they recorded massive growth in the market.
Bitstamp announced this via a tweet yesterday, revealing that it intends to offer numerous services in the US. The company tweeted, “We’re building US market momentum and are committed to working with leading companies like @Nasdaq & @silvergatebank to build the best market infrastructure while exploring the expansion of our institutional custody options and the addition of a regulated derivative offering.”
In its blog post, Bitstamp revealed that it has recorded 570% new customer growth in the US market. Thanks to this development, Bitstamp will increase its financial commitment to the US business. It also intends to put in more effort towards acquiring top talent. Apart from that, it will continue developing its best-in-class market infrastructure.
Over the last months, the cryptocurrency exchange has recorded impressive numbers in the United States. In fact, assets under management for US customers grew by 281% in the first quarter of this year. In addition, US client activity rose by 341% per month and they recorded a 325% increase in mobile app usage amongst US customers.
Bitstamp’s CEO, Julian Sawyer, said, “Crypto is the fastest-growing segment of financial services, and we intend to be a leader in the most competitive financial market in the world: the US.” He added that the potential for growth in the US is astronomical. In fact, thanks to the company’s position in the crypto space, they are seeing incredible customer adoption.
Bitstamp to launch a nationwide campaign to expand growth
The cryptocurrency exchange said it intends to expand on its current growth in the United States. “A nationwide marketing campaign accompanies the launch in order to improve its brand recognition in the US. However, Bitstamp is also planning to hire executive-level leaders, believing that these will help it lock in long-term clients,” the company added.
Undoubtedly, Bitstamp is known for working with some of the leading companies in the crypto space. For example, it has worked with Silvergate Bank. The US-based business is known for innovation in the cryptocurrency space and introducing new product offerings for US customers.