Over the past year, the growth of the crypto market has prompted several companies to enter the market and the existing ones to expand their services. Bitstamp is the latest cryptocurrency company to develop 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 recording massive growth in the market over the past few months.
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 derivatives offering.”
Bitstamp revealed that it recorded 570% new customer growth in the US market in its blog post. Thanks to this growth, Bitstamp will increase its financial commitment to the US business, put in more effort towards acquiring top talent, and continue developing its best-in-class market infrastructure.
The cryptocurrency exchange recorded impressive numbers in the United States in the past few months. Assets under management for US customers grew by 281% in the first quarter of the year, US client activity rose by 341% per month so far this year, 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, and thanks to their 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 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.
Bitstamp is known for working with some of the leading companies in the crypto space. It worked with US-based Silvergate Bank, known for innovation in the cryptocurrency space, to introduce new product offerings for US customers.