Bitstamp is looking to leverage the clarity provided by the MiCA laws to bring crypto services into the mainstream. The cryptocurrency exchange is in talks with three major banks in Europe in an attempt to expand its crypto services and products.
Robert Zagotta, global chief commercial officer and CEO of Bitstamp US, said inquiries about the exchange’s Bitstamp-as-a-Service solution have increased. This on-demand crypto solution provides a simple way for banks, fintechs, and payment platforms to enter the crypto space, thereby extending exposure to the new asset class to their clients.
Zagotta noted that the three banks are “household names” in Europe. However, he did not disclose further details about the firms but said the exchange will make official announcements early next year.
The news comes shortly after Bitstamp halted Ether (ETH) for US customers due to an unfriendly regulatory environment. This step has been taken as major banking giants like Deutsche Bank and HSBC have recently indicated greater demand from customers for exposure to Bitcoin and other cryptocurrencies.
The expectation is that the banks will begin to offer crypto services to customers in the first quarter of 2024. In this regard, Deutsche Bank has already partnered with Swiss crypto firm Taurus, providing custody services for digital assets and tokenized financial instruments to institutional clients.
