Bitstamp Announces Expansion in the U.S. Market
Bitstamp announces 570% new customer growth in the U.S. market as it aims to triple talent
(Bitstamp, Global) May 3, 2021 — Bitstamp, the world’s longest-running cryptocurrency exchange, today announced its expansion in the U.S. market with an increased financial commitment to the U.S. business, dedication to acquiring top talent and continued development of its best-in-class market infrastructure.
Bitstamp believes digital assets are a key part of the global economic recovery. Not only do digital assets provide a logistical solution for the future of money but are an easy way to exchange value as the world becomes more interconnected.
Prioritizing the U.S. Market
Bitstamp has seen impressive growth in the U.S. including:
- 570% Increase in New Customers: Bitstamp’s number of new customers in the U.S. skyrocketed by 570% in the first four months of 2021 versus the same period of 2020.
- 281% Increase in Assets Under Management (AUM): U.S. customers’ AUM surged by 281% in the first quarter of 2021.
- 348% Increase in Client Activity: Bitstamp’s U.S. client activity (i.e. trades, deposits, etc.) increased on a monthly level by 348% in 2021 versus the same period last year.
- 325% Increase in Mobile App Usage: Use of Bitstamp’s mobile app in the U.S. increased by 325% on a monthly basis.
These indicators correlate with Bitstamp’s customer-centric strategy (i.e. adding new assets and new ways to buy crypto along with its dependable uptime and accessible customer support), Bitstamp is building momentum in the U.S. market and globally. Bitstamp is prioritizing U.S investors, in a market primed for disruption and growth.
Bitstamp is committed to working with top U.S. financial companies like Nasdaq and Silvergate Bank to build the best market infrastructure along with exploring expanding its institutional custody options and adding a regulated derivatives offering.
Bitstamp’s CEO, Julian Sawyer, commented, “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. The potential upside for new retail and institutional investors in the U.S. is astronomical and, as one of the top three global exchanges, we are seeing incredible customer adoption. The triple digit growth we’ve seen in the U.S. in 2021 has shown us that Americans want access to an exchange like ours.”
In addition, Bitstamp is launching a full-scale U.S. marketing campaign today to raise Bitstamp’s profile and to educate more retail investors on the benefits of digital assets, called “For All the Ways We Crypto.”
Investing in talent and customer service
With executive leadership from Coinbase, Barclays, Credit Suisse, and Fidelity, Bitstamp continues to hire leaders dedicated to building the future of financial services. In the last year, Bitstamp has doubled its U.S. team and aims to triple its team by the end of 2021.
In addition, Bitstamp will continue to focus on bringing real relationship building and human support to digital assets, the fastest growing segment of financial services. As part of this focus, Bitstamp plans to grow its customer support team by 50 percent this year.
- At present, Bitstamp’s customer call center wait time is 22 seconds while the financial services industry average is close to 7 minutes.
Focus on Digital Asset Innovation
Bitstamp’s exceptional uptime in times of high volatility will continue to be a focus. Bitstamp’s world-class Nasdaq matching engine powers its exchange, ensuring optimal trading speed by handling large orders without destabilizing the price for its over four million investors, traders and institutional customers worldwide.
Bitstamp’s Historical Uptime and Volumes:
- In the past, Bitstamp has processed over $3 billion of volume in 24 hours without downtime.
- Bitstamp’s global daily trading volume is around $1 billion and its global monthly average equals roughly $28 billion.
On the institutional side, Bitstamp worked with Silvergate Bank as the first exchange to launch SEN Leverage, a product that allows institutional customers to trade any asset on-platform with leverage collateralized by bitcoin or U.S. dollars. As of the end of April 2021, Bitstamp has originated over $50 million in loans through SEN Leverage. At this rate, Bitstamp believes it can originate over $250 million in such loans by the end of 2021.
Bitstamp Global and U.S.
Bitstamp has been a leader in the fastest growing sector of financial services since 2011 with impressive volumes and liquidity, for example:
- Bitstamp’s total AUM is over $11 billion, with the U.S. contributing 11% of that AUM.
- Bitstamp is in the Top 5 globally for daily trading volumes among regulated exchanges.
- Bitstamp has nearly 4.4 million users worldwide.
Sawyer continued, “We have the momentum to change the customer's experience with digital assets. We have globally brought millions of people and institutions into digital assets. It's time now that we focus on building the best customer experience possible and invest more in the US market.”
About Bitstamp
Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record, cutting-edge market infrastructure and dedication to personal service with a human touch, Bitstamp’s secure and reliable trading venue is trusted by over four million customers worldwide. Whether it’s through their intuitive web platform and mobile app or industry-leading APIs, Bitstamp is where crypto enters finance. For more information, visit www.bitstamp.net.
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Andrea Capodilupo