Singapore, Saturday, September 21, 2024 – Cryptocurrency exchange Bitstamp is setting its sights on expanding its institutional business in Australia, reports said.
The move coincides with Robinhood’s planned $200 million acquisition of the exchange.
During an interview at the Token2049 conference in Singapore, Bitstamp highlighted the potential for serving institutional clients across Asia.
Bitstamp also identified Hong Kong and Singapore as primary markets, with Australia being a growing focus in 2024.
Bitstamp acknowledged the dominance of local players in the Australian crypto exchange space.
However, it said it believed Bitstamp’s global presence offers unique value propositions.
As of now, Asia accounts for 20% of Bitstamp’s global revenue, while Europe contributes around 65%.
Bitstamp anticipates significant growth in retail client traffic after the acquisition.
Robinhood’s large user base of crypto buyers and sellers is expected to contribute substantially to Bitstamp’s market liquidity.
