Bitstamp has announced that it is expanding its operational jurisdiction to another major country. As per the officials at the Bitstamp exchange, they have acquired an operational license in a European country.
Bitstamp Enters French Market
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As per the officials at the Bitstamp exchange, they have acquired an operational license for France. This way, the exchange will be able to offer its cryptocurrency trading and exchanging services in the respective country.
Bitstamp is known to be one of the longest-standing and major cryptocurrency exchanges in the entire world.
They have confirmed that the particular exchange has acquired an operational license from the Financial Markets Authority (FMA). It is the regulatory authority in France known to be granting operational licenses to crypto firms.
Bitstamp has gone after its Rivals
According to market observers, the exchange has taken a very remarkable and much-needed step in the French crypto market.
There are not many cryptocurrency exchanges currently operating in France due to the regulatory strictness and tight policies in the country.
Many cryptocurrency exchanges find it very difficult to acquire operating licenses in their respective country. This is the reason why not many cryptocurrency exchanges are able to operate in the country.
This means that France has a lot of potentials for the crypto exchanges and other crypto firms to grow, and increase their user following by several million.
Just when most of the cryptocurrency exchanges are unable to enter the French market, the major exchanges are trying their luck.
So far, major exchanges such as Crypto.com and Binance have entered the French cryptocurrency market. They launched their trading services after acquiring the operating license in the country.
By doing the same, Bitstamp has followed in the very footsteps of its rivals. These exchanges will be able to compete with each other in a particular country and prove who has the ability to offer better services.
Bitstamp has Entered Other Markets as well
Although Bitstamp has been around for a while, it has not operated as strongly as other cryptocurrency exchanges.
The exchange was always considered the tier-2 exchange when compared to the major cryptocurrency exchanges such as Coinbase, Binance, and FTX.
However, the exchange is aiming to increase its influence in the global crypto market. It wants to prove its worth in the global market and wants to compete with the major crypto exchanges.
It wants to catch up to the major exchanges and while doing so, it has expanded its operational jurisdiction in the European region.
The exchange has already expanded its services in countries such as Spain and Italy. The top monetary authority of France the AMF has granted Bitstamp a license to operate as a legalized crypto entity.
The exchange can now advertise its products and services to the French locals and have them use its platform.
It is a great privilege for the exchange and it tends to send a very strong message across the cryptocurrency industry.
The major cryptocurrency exchanges will now learn about the potential of the exchange and what it has to offer the locals.
The exchange officials made the announcement of launching crypto services in the French market through the Twitter page. They revealed that they are thrilled to be part of the crypto industry based in France.
In the past several months, the exchange has continued expanding its operational jurisdiction throughout the world. The European region is one of the major markets it has tapped into in the mentioned period.
So far, the exchange has acquired multiple VASPs in several parts of the world. It may continue expanding its services, offering more advantageous and beneficial services to the users.
Partnerships with Major Entities
To increase its influence in the global market, Bitstamp has undergone several partnerships. These partnerships have been formed with Immortals, a major professional eSports organization based in America.
The exchange has also partnered with several NFT platforms in order to gain more ground in the crypto market.