Bitstamp follows through on 570% customer growth numbers with U.S. expansion
Crypto space old timer and ‘world’s longest-standing bitcoin exchange’ Bitstamp announced that it is going to bump up its efforts in the United States.
The cryptocurrency exchange, made the announcement on Monday and said it would be launching a poweful marketing campaign in the U.S.
Joining other exchanges in similar efforts, Bitstamp will focus on educating the retail population about crypto following significant growth in the first quarter of 2021. To succeed in its mission, Bitstamp will triple the number of people in its U.S. team and grow its customer support team by 50% in 2021.
Bitstamp’s number of new U.S. customers skyrocketed by 570% in Q1 2021. Similarly, U.S. customers’ Assets Under Management (AUM) surged by 281%, with client activity up 348% monthly in Q1 2021 compared with the same period last year.
— Bitstamp (@Bitstamp) May 3, 2021
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Bitstamp Chief Executive Officer, Julian Sawyer said the firm began to see increased influx from retail investors and U.S. financial institutions a year ago at a time where other crypto exchanges were “struggling with uptime and customer support.” Due to its security, transparent fees, and infrastructure, the exchange considers to have an edge against any local competition.
Fastest growing market
“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,” said Sawyer, a former Gemini executive. “The potential upside for new retail and institutional investors in the U.S. is astronomical.”
Bitstamp has experienced significant growth during the pandemic which can be seen an indication Americans are looking for greater access to digital assets. Bitstamp reported that the assets under management for U.S. users had risen by 281% in Q1 2021, while the number of customers had surged by 570% in the first four months of this year compared to the same period in 2020.
The potential upside for new retail and institutional investors in the U.S. is astronomical.
Bitstamp have upgraded its leadership team in the past year. Sawyer was appointed CEO in October last year coming in from competitor Gemini. Just recently, powerhouse Stephen Bearpark with previous top roles at Amazon and Barclays joined as Chief Financial Officer. Sameer Dubey, also a former Barclays executive, completed the team, ready for its ‘battle’, as Chief Operating Officer.
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Source: igaming
