One of the oldest exchanges in the crypto space recently announced that it will step up its efforts to reach more users in the US.
In an advertisement for Bitstamp That’s what the cryptocurrency exchange said today would launch a US marketing campaign to educate retail investors about cryptocurrencies after seeing significant growth in the first quarter of 2021. As part of that effort, Bitstamp said so He planned to triple the number of employees on his US team and increase his customer service team by 50% by 2021.
The CEO of Bitstamp, Julian Sawyer, Cointelegraph told Cointelegraph that the company has seen interest rates rise from US retail investors and financial institutions since 2020, and also stated that other crypto exchanges have seen the same “Problems with availability and customer service.” He said the company’s security, transparent fees, and infrastructure would give the exchange an edge over any local competition.
“Cryptocurrencies are the fastest growing financial services sector and we want to be the leader in the most competitive financial market in the world: the US”, Said Sawyer. “The upside potential for new US retail and institutional investors is astronomical.”
Sawyer cited the significant growth in exchanges during the pandemic as a sign that Americans may want better access to digital assets. Bitstamp reported that US user assets under management increased 281% in the first quarter of 2021, while the number of clients in the first four months of this year increased by 570% compared to the same period in 2020. Additionally, operations and deposits saw a monthly increase of 348% in 2021 over the same period last year.
The announcement comes after Bitstamp changed key positions on its board of directors last year. Sawyer, a former Gemini executive, joined the company as CEO last October. Recently, Stephen Bearpark, Amazon veteran and former CFO of Barclays, joined Bitstamp as CFO Sameer Dubey took over as Director of Operations.