Five Questions with Matt Mamigonian

We are excited to ask Matt Mamigonian, Business Development Manager of Bitstamp, 5 questions. Matt is no stranger to finance as he holds a Master of Science with a major in Finance, including Series 7 and 63 FINRA licenses. Get to know a little bit more about Bitstamp with Matt in this edition of “5 Questions”.

Questions & Answers

Q: Bitstamp holds the title of longest standing crypto exchange, and similarly we are the oldest crypto trade automation product dating back to late 2013. How does being a veteran in the crypto space influence the business relationships and social responsibility that Bitstamp pursues?

Matt Mamigonian: Being the longest standing exchange globally means we have the responsibility of providing a mature approach to the way we run our business and the relationships we pursue and maintain. We work with an incredibly large number of clients globally and ensure that security, reliability, and ease of use are all at the forefront of the client experience. Finally, since we operate with a compliance first approach, global regulation and operating within the letter of the law is of utmost importance.  

Q: With your background at J.P. Morgan, BNY Mellon, and currently Bitstamp, do you see cryptocurrency fintech replacing traditional investment vehicles and infrastructures that you previously worked with? 

Matt Mamigonian: To say that I am bullish on crypto would be an understatement. The current total market cap of the asset class currently sits at about $2.1 Trillion, which is less than the market cap of Microsoft or Apple. Traditional financial infrastructure will be disrupted, the capital raising process will look different, and more value will accrue to the end users and not the rent seekers. Capital markets will truly become global in nature and we haven’t even seen more than 1-2% of what this space is capable of achieving.

Q: Bitstamp boasts over 4 million clients; it’s known that whales and professional traders choose to trade with Bitstamp. In your opinion, will Bitstamp need to offer new products, like derivatives or margin trading, to compete with other growing trading platforms?

Matt Mamigonian: I believe that we will need to continue to innovate, add products and services, and expand our platform to keep our current institutions and clients happy as well as win more business. We continue to look at new products and services to offer – within the regulated framework we operate – and derivatives, futures, and options could be considered. We currently offer a margin product in partnership with Silvergate Bank and we have onboarded many firms who are using it day in and day out.

Q: Being in business development, you have a lot of conversations with startups and established companies in crypto fintech. Are there any themes that stand out over the past 6 months? How has your role changed?

Matt Mamigonian: There are a few themes that stand out. Startups and fintech players are seeking to more natively build crypto into their product at launch vs. adding features after they’ve been established. They want to build more natively in crypto – and want that to be the foundation or building blocks of their product or service. It’s become much more accepted, and dare I say, mainstream then it was a few years ago as well. Another theme would be building certain products and services to fit a market – or said differently – localizing a product. My role hasn’t changed that much in the last six months; however, I would say it’s only expanded and now encompasses a larger variety of incumbents.  

Q: Are there any new partnerships, sponsorships, or projects with Bitstamp that are coming up that you’re excited about (and can publicly share)?

Matt Mamigonian: The next few months are going to be incredibly busy for us and there isn’t anything I can formally announce right now. The best way to follow us would be our Twitter Handle @Bitstamp or our Blog!

About Bitstamp

Bitstamp is the world’s longest-running cryptocurrency exchange, continuously supporting the crypto economy since 2011. With a proven track record and mature approach to the industry, Bitstamp provides a secure and transparent trading venue to over four million individuals and enables a range of institutional partners to enter crypto markets through their time-proven infrastructure. Whether it is through their intuitive web and mobile apps or arsenal of industry-leading APIs, Bitstamp is where crypto enters the world of finance.

For more information, visit bitstamp.net.

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