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“Massive interest in crypto from our institutional clients”

“Massive interest in crypto from our institutional clients”

LONDON, August 22, 2022 /PRNewswire/ — Business2community.com caught up with Bitstamp CEO Jean-Baptiste Graftieaux while on vacation in southern Franceso we were especially happy that he could take the time to talk to us.

Bitstamp is one of the oldest, if not the oldest and most reputable exchanges in the crypto space, having been founded in 2011. Indeed, Monday, August 22 was the company’s 11th anniversary.

So what better time for Bitstamp to launch a marketing campaign aimed at retail investors and the Q2 update of its Crypto Pulse Survey 2022, which will be released in full at the end of the month.

We kicked off our discussion by asking JB, as his colleagues often call him, about the survey results and the marketing push, before diving into a wide-ranging discussion of other crypto matters.

The full interview covered everything from stablecoins to regulations, the interest the company earns on its large cash stack and, among other things, including whether Bitstamp will launch an NFT market soon and how to get a coin listed on the famous selective spot. exchange – and much more.

We reproduce below some excerpts from the interview with Jean-Baptiste Graftieaux

Overview of Bitstamp Crypto Pulse Survey Q2 2022 Data Results

What is very interesting about the survey is that the level of confidence is still there since our last survey in the first quarter of the UK market.

In terms of crypto as a trustworthy investment, we had a figure of 52% in 2021 – which dropped to around 42% in 2022. It’s a slight decrease but it’s not dramatic.

Significantly, we continue to see a lack of knowledge and education as one of retail’s top barriers to investing in crypto – the proportion citing a lack of crypto education rose from 45% in 2021 at 55% this year. Which means that as an ecosystem, we need to amplify education.

On these three points – confidence, education and risk – the data is quite consistent from one region to another.

On Bitstamp’s new features announced in its Summer of Discovery

Yes, we are making it easier for retail customers to buy crypto on Bitstamp, so now they can buy crypto with Apple Pay or Google Pay for example.

We are also launching new assets on the platform at the end of August.

And we’re really excited to introduce a 0% trading fee when clients trade $1,000 over a period of 30 rolling days on all the assets of the platform.

On Crypto Winter

The crypto winter for a company like Bitstamp is a good time for us to build capacity to prepare for the next bull run with new products and features. We have a very active licensing journey in all regions – 10 in progress worldwide.

Over the next two quarters, we will increase our regulatory footprint, so we are in a strong position to fully participate in the next bull run.

The second point is that we see a strong trend on the institutional side. Many institutional businesses are looking to take their first step into crypto – there is huge interest in crypto from our institutional clients.

On positive interest rates for Bitstamp’s business

I think for Bitstamp, we have quite a large level of cash on our balance sheet. The rise in interest rates therefore has a positive impact on our business. This was not the case before when interest was zero or negative. Since the end of July we have seen a good return on our cash flow.

On the regulations

What we are experiencing today is not very smart in Europe.

For example, if you want to operate a crypto business, you must register separately with each country as a virtual asset service provider. Each country has its own requirements.

So with MiCA coming in 18-24 months it will be a game changer because the level playing field will be. There will be a country where you can establish your activities as MiCA compliant and then passport the activities in the various European countries.

On stablecoins

In a nutshell, regulatory requirements are likely to increase for issuers and for the distribution of stablecoins.

Recent developments mean that if we are to regain the trust of retail clients and the next wave of investors, transparency is very important and that is my second point.

Audited stablecoins with a high level of transparency around their mechanisms and the protections they offer, risk management and controls, etc., will be key to the success of stablecoins to allow them to last in the ecosystem.

On DeFi hacks

We’re seeing players who are new to the game and maybe don’t have a high level of control and maybe that’s because they’re focused on the business in terms of business development.

This could make them more exposed to hacks. Nevertheless, it is very important for companies to succeed in DeFI. If we introduce security, smart regulation, and transparency, I think all of that will combine to make DeFi a big hit.

On NFTs and the Metaverse

The key question is, will it last? I think it will, definitely. We will see NFTs in the Metaverse. I’m a big fan of NFT communities, where you buy an NFT to be part of a community and you get utilities from the NFT property, for example in sports.

On industries ripe for blockchain disruption?

In the realm of government applications – records management, identity management, voting in elections or even taxes, blockchain technology has its place in all of these areas.

Also in big data, data storage and of course financial services. The next wave, however, I think, will be outside financial services, in areas such as real estate.

On Bitstamp’s attitude towards lists

We are extremely selective in the assets we list.

We also listen to our clients and what assets they would like to see on our platform.

However, the most important thing is liquidity. What we want to ensure is that when we list an asset on our platform, we have sufficient liquidity to ensure that our clients can trade the assets smoothly.

On the risks facing crypto

An unregulated industry is probably the biggest risk. I think we are seeing a good trend from a regulatory perspective and we are continuously engaging with regulators.

Most regions and countries are considering regulating crypto. The main risk here is to ensure that the regulations are smart and promote a level playing field.

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