According to BlockBeats, on September 18, cryptocurrency exchange Bitstamp announced that it will strategically expand its institutional business in Australia in 2024. Bobby Zagotta, Bitstamp’s global chief business officer, said at the Token2049 Summit in Singapore that the Asia-Pacific region has become the company’s key development area. 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, Robinhood’s $200 million acquisition of Bitstamp is undergoing regulatory approvals in multiple jurisdictions and is expected to be completed 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)
