The exchange Bitstamp plans to expand its institutional business in Australia this year.

ChainCatcher news, cryptocurrency exchange Bitstamp is seeking to expand its institutional business in Australia as the company continues to grow its influence in the Asia-Pacific region.

Bitstamp's Global Chief Commercial Officer Bobby Zagotta stated at the Token2049 conference in Singapore: "We see Asia as a great opportunity, with Hong Kong and Singapore being our primary markets, and our business in Australia is also growing steadily. In 2024, we have identified Australia as a specific region we want to focus on."

Zagotta explained that, from a revenue perspective, Asia currently accounts for 20% of its global business, while Europe accounts for about 65%.

It is reported that Robinhood announced in June plans to acquire Bitstamp for a potential price of $200 million, with completion expected in the first half of 2025.