The CEO of Bitstamp confirmed that the trading platform has been witnessing massive crypto interest from institutional clients.
The cryptocurrency market is playing a bearish game this year, and it has not barred Bitstamp from being the winner amid crypto winter. It has been confirmed by the CEO of the popular trading platform Bitstamp, which is Europe’s oldest cryptocurrency exchange operating in over 100 countries, that Bitstamp is receiving massive interest in crypto from institutional clients.
Bitstamp Is The Winner In Crypto Winter
On Monday, Jean-Baptiste Graftieaux, Bitstamp’s global CEO, shared his opinion on cryptocurrency regulation in an interview hosted by Business2community. The bearish market has given Bitstamp an opportunity to build and expand its ecosystem. According to the CEO of Bitstamp, the institutional clients were far away from the crypto sphere, but now they are leaning forward in the cryptocurrency markets with great interest.
However, Jean did not reveal the names of the institutional companies which are connected to the platform, and he hinted that Bitstamp is guiding them through their investment goals. Discussing the crypto winter, Jean stated that Bitstamp has “a very active licensing journey across all the regions – 10 in progress globally.” This statement from the company becomes the spotlight where dozens of exchanges are facing troubles. A continuous stream of bad news has forced many crypto exchanges to lay off their staff, rapidly reduce expenditure, halt withdrawals, or, in the worst cases, declare bankruptcy.
Bitstamp Becomes The Messiah
Bitstamp is a live example of being the messiah in the crypto winter. The CEO confirmed that Bitstamp would expand its regulatory footprint over the next couple of months in order to be in a solid momentum to contribute to the next bull run. He shared, “We see a strong trend on the institutional side.” Jean also discussed various topics, including decentralized finance (DeFi), the Metaverse, and non fungible tokens (NFTs).
Jean talked about the crypto regulation in Europe, and he believes that the upcoming MiCA regulation will build a smooth road for crypto companies to execute their operations. Elaborating on this, he said, “What we are experiencing today is not very smart in Europe. For example, if you want to operate a crypto business, you need to register with each country separately as a virtual asset service provider. Each country has its own requirements. So, with MiCA coming in 18 to 24 months, that will be a game-changer because there will be a level playing field. There will be one country where you can establish your activities as MiCA-compliant and then passport the activities across the different European countries.”
Conclusion
Bitstamp is one of the most reputable crypto platforms in Europe, and the company recently completed 11 years in the crypto industry. Bitstamp is very upbeat about cryptocurrency, and the company believes that appropriate regulations and features will completely disrupt the cryptocurrency market. The company is currently working on its developments while also searching for additional ways to dominate the cryptocurrency ecosystem.
