Bitstamp announces US expansion after 570% increase in customers
One of the oldest crypto exchanges, Bitstamp recently announced that it would be ramping up efforts to reach more users in the United States.
The announcement says the crypto exchange would be launching a marketing campaign in the U.S. aimed at educating retail investors about crypto following significant growth in the first quarter of 2021. Bitstamp has planned to add more people in its U.S. team and grow its customer support team by 50% before the end of this year.
Bitstamp CEO Julian Sawyer said the exchange began to see increased levels of interest from retail investors and U.S. financial institutions in the year 2020 while claiming other crypto exchanges were “struggling with uptime and customer support.” He described that the firm’s security, fees, and infrastructure would give the exchange an edge against any other competition.
“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 U.S,” said Sawyer. “The potential upside for new retail and institutional investors in the U.S. is astronomical.”
Sawyer further explained that the significant growth the exchange had experienced during the pandemic as an indication Americans may be asking for access to digital assets.
The announcement follows Bitstamp changing key positions in its leadership over the last year.
Bitstamp said that the assets under management for U.S. users reportedly had risen by 281% in Q1 2021, while the number of users has surged by 570% in the first four months of this year compared to the same period in last yea and also trade and deposit activities showed a 348% increase monthly in 2021 when compared to the same period in 2020.