Cryptocurrency exchange Bitstamp announced its plans to strategically expand its Australian institutional business in 2024. Bobby Zagotta, Bitstamp's Global Chief Commercial Officer, stated at the Token2049 Summit in Singapore that the Asia-Pacific region has become a key focus 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 to offer differentiated services to Australian institutional clients.

Meanwhile, the $200 million acquisition of Bitstamp by Robinhood is undergoing regulatory approvals in multiple jurisdictions and is expected to be completed in the first half of 2025. Zagotta highlighted that this merger is expected to introduce a significant amount of retail trading volume to Bitstamp, significantly enhancing market liquidity. (The Block)