TechFlow news, on September 18, according to The Block, cryptocurrency exchange Bitstamp announced plans to strategically expand its institutional business in Australia in 2024. Bobby Zagotta, Bitstamp's Global Chief Commercial Officer, said at the Token2049 summit in Singapore that the Asia-Pacific region has become a key growth area for the company, with Asian operations currently accounting for 20% of the group’s global revenue, while the European market contributes 65%.
Zagotta emphasized that Bitstamp’s global operational experience positions it well to offer differentiated services to institutional clients in Australia. Previous reports indicated that Robinhood has agreed to acquire Bitstamp for $200 million in cash, a deal currently undergoing regulatory approvals across multiple jurisdictions and expected to close in the first half of 2025. Zagotta noted that the acquisition is expected to bring significant retail trading volume to Bitstamp, substantially enhancing market liquidity.
