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Bitstamp’s expansion to Australia targets the institutional crypto market gap left by the limited operations of competitors like Binance and Kraken.
Key Notes
Bitstamp targets Asia-Pacific expansion, focusing on institutional business in Australia to fill market gap left by competitors.Robinhood's $200 million acquisition of Bitstamp, set to close in 2025, aims to boost retail client base.Asia contributes 20% of Bitstamp's global revenue; expansion into Australia could shift regional revenue distribution..Crypto exchange Bitstamp is set to deepen its footprint in the Asia-Pacific region with a particular focus on institutional business expansion in Australia. This strategic move comes as part of the company’s global growth ambitions and follows Robinhood’s planned acquisition of Bitstamp for $200 million, expected to close in 2025.
During the Token2049 conference in Singapore, Bobby Zagotta, Bitstamp’s global chief commercial officer, highlighted the promising opportunities for institutional clients in Asia.
“We see Asia as a great opportunity,” said Zagotta.
“Hong Kong and Singapore are our primary markets… In 2024, we identified Australia as a particular geography we’d like to focus on.” Company has identified Australia as a region where its institutional offerings can fill a void left by other players such as Binance and Kraken, which Zagotta described as operating “in limited ways” in the country.
Zagotta explained that while Australia is predominantly serviced by local operators, Bitstamp’s global exchange operations offer unique value propositions. The Exchange believes that institutional clients in the region currently lack options, and Bitstamp aims to address this gap by leveraging its global infrastructure.
“[Austrailians] don’t have a lot of choices is my belief today. Binance is there. I believe Kraken is there but in limited ways.” said Zagotta.
With Asia contributing 20% of Bitstamp’s global revenue and Europe accounting for 65%, the exchange continued expansion into Australia could see these figures shift. The company is working diligently to secure approvals from Australian regulators, aligning with its goal of becoming a dominant player in the region.
Robinhood Bitstamp Deal Nears Completion
Robinhood’s acquisition of Bitstamp, initially revealed in June, is expected to finalize in the first half of 2025. This strategic move is likely to boost Bitstamp’s retail client base significantly. According to CEO Julian Zagotta, the collaboration could channel substantial retail trading flows from Robinhood’s extensive crypto user base, enhancing the appeal of Bitstamp’s market offerings.
As the agreement advances, Bitstamp remains optimistic about the timeline and regulatory process. Zagotta expressed confidence, noting that regulatory approval is currently underway. However, business operations will remain unchanged until the transfer of control is complete.
Meanwhile, Bitstamp is positioning itself to capitalize on Australia’s growing interest in institutional cryptocurrency trading. This expansion could increase market liquidity and provide new services tailored to institutional players.
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With over 3 years of crypto writing experience, Bena strives to make crypto, blockchain, Web3, and fintech accessible to all. Beyond cryptocurrencies, Bena also enjoys reading books in her spare time.
