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Cryptocurrencies

Bitstamp receives BitLicense to expand crypto services in US

Wednesday 10 April 2019 | 12:53 PM CET

Bitstamp, a large European cryptocurrency exchange, has been issued New York’s latest virtual currency license, to expand its US operations.

The New York Department of Financial Services (NYDFS) awarded Bitstamp the 19th BitLicense, allowing the exchange to offer Bitcoin, Litecoin, Bitcoin Cash, Ether and XRP trading pairs to the state’s residents. Bitstamp first applied for the license in June 2015, when NYDFS created the state’s landmark law.

So far in 2019, prime brokerage Tagomi, stock trading app Robinhood and Bitcoin ATM operators Cottonwood Vending and LibertyX have received the coveted license.

Bitstamp already has a payment institution license in the EU, allowing it to operate across all 28 member countries. The exchange is primarily a crypto-to-fiat platform, though it does offer crypto-to-crypto services. At present, though, the majority of its volume comes from its fiat on and off ramps.

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