Cryptocurrency exchange Bitstamp announced that it will strategically expand its institutional business in Australia in 2024. Bitstamp Global Chief Commercial Officer Bobby Zagotta said at the Token2049 Summit in Singapore that the Asia-Pacific region has become a key development area for the company. Currently, Asian business accounts for 20% of the group's global revenue, and the European market contributes 65%. Zagotta emphasized that Bitstamp is expected to provide differentiated services to Australian institutional clients with its global operating experience.
Meanwhile, Robinhoodâs $200 million acquisition of Bitstamp is going through regulatory approvals in multiple jurisdictions and is expected to close in the first half of 2025. Zagotta pointed out that this merger is expected to introduce a large amount of retail transaction flow to Bitstamp and significantly increase market liquidity. (The Block) #crypto2023A