One of the oldest exchanges in the cryptocurrency area recently announced that it will intensify its efforts to attract more users in the United States.
In today’s announcement from Bitstamp, the cryptocurrency exchange announced that they will launch a marketing campaign in the US that aims to educate retail investors about cryptocurrencies after significant growth in the first quarter of 2021. As part of this effort, Bitstamp said it plans to triple the number of people in the US the team and customer support service will increase by 50% in 2021.
Bitstamp CEO Julian Sawyer told Cointelegraph that in 2020 the company began to see increased interest from US retail investors and financial institutions, while other cryptocurrencies “are struggling with uptime and customer support.” He said the company’s security, transparent fees and infrastructure will give the stock exchange an advantage over domestic competition.
“Crypto is the fastest growing segment of financial services and we intend to become a leader in the most competitive financial market in the world: the United States,” said Sawyer. “The growth potential of the new retail and institutional investors in the United States is enormous.”
Sawyer described the stock market’s significant growth during the pandemic as a sign that Americans may want more access to digital assets. Bitstamp reported that assets managed by US users increased 281% in the first quarter of 2021, while the number of customers increased by 570% during the first four months of this year compared to the same period in 2020. Turnover and deposits in 2021 increased by 348%. Per month compared to the same period in 2020.
The announcement comes after Bitstamp has changed key positions in the management over the past year. Sawyer, the former CEO of Gemini, joined the company as CEO in October. Most recently, Stephen Burpark, a veteran of Amazon and former Barclays CFO, Bitstamps CFO and Samir Duby became Bitstamps COO.