One of the biggest crypto platforms in Europe, Bitstamp, today announced that it is planning to support a new set of digital assets which will include seven new coins, including Circle’s stablecoin.
Which coins are being considered?
Bitstamp is currently considering the possibility of adding seven new coins to its platform. It includes the likes of Basic Attention Token (BAT), 0x (ZRX), USD Coin (USDC), Zcash (ZEC), Stellar Lumens (XLM), Paxos Standard (PAX) and Ethereum Classic (ETC). The platform said that these assets must be compliant with all the jurisdictional regulations as well as local laws before they are added to their exchange. The coins must also pass their compliance, safety, and technical review.
The company said that it is trying to fulfill its mission to support all assets demanded by its customers, as long as they meet its standards and comply with local laws. It said,
“As part of this exploration process, you may see signs of engineering work on our platform related to the assets listed above. We cannot guarantee that this will result in any new listings and it does not disqualify any other assets from being monitored for possible support at Bitstamp.”
Bitstamp’s platforms handle over $120 million in transactions
The popular European crypto platform handled more than $120 million in crypto transactions. It recently added security firm BitGo as a custody provider to help secure their digital assets. The qualified custodian will provide $100 million in insurance to the firm’s customers, adding yet another layer of infrastructural strength and security for the customers.
The deal with BitGo also helped the company strengthen its presence in the US. Note that Bitstamp received the New York Department of Financial Services (NYDFS) BitLicense recently which will allow it to run a regulated cryptocurrency exchange to the residents of the state. Paxos and Gemini are two other licensed entities working in this space.
Bitstamp has been one of the longest-running crypto operations in the world, and is in the ninth year of operation. The exchange is currently the 61st largest in terms of the total trading volume. Note that Bitstamp has received a payment institution license in Luxembourg in 2016, which makes it a regulated entity.