Crypto Exchange Bitstamp Receives New York BitLicense


Luxembourg-based crypto exchange Bitstamp announced Tuesday that it has become the latest company to gain a coveted BitLicense from the New York State Department of Financial Services.

According to the announcement, Bitstamp sees the BitLicense as a key element that will further fuel the exchange’s expansion into the United States.

“The BitLicense requires us to meet several stringent requirements when it comes to consumer protection, which is a challenge we fully embrace,” stated the Bitstamp team. “It is further proof that trading at Bitstamp is subject to the same high standards followed by traditional financial institutions.”

This is the 19th BitLicense given out to date, with the previous license going to crypto brokerage startup Tagomi Trading LLC.

Bitstamp has been publicly focused on improving the security and compliance of its platform over the last year. Last November, the exchange partnered with Irisium, a provider of market monitoring and analytics software, to “enhance customer protection and market integrity.”

Bitstamp is currently the 48th ranked cryptocurrency exchange by trading volume on CoinMarketCap and offers direct fiat trading pairs for Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Litecoin (LTC) and Bitcoin Cash (BCH).

More: Bitstamp Obtains BitLicense

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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