The United Kingdom has become one of the most over-saturated markets for the blockchain industry. This was once again proven with the announced that the digital brokerage, Stake, has launched its operations in the UK jurisdiction. The difference between this new startup and countless others is that Stake has priority status in the United States blockchain market. Subsequently, UK clients can have closer access to this market space. Confirmed in the announcement was that the Stake Brokerage – UK Subsidiary, will maintain more than 3500 Stocks/ETFs from the United States of America. It should be noted that additional expansions for this platform are anticipated throughout the entirety of the European Union, with finalization on those new markets slated for Mid-2020.
The chief executive officer and founder of the Stake Brokerage, Matt Leibowitz, spoke on their latest expansion. He stated: “digital Brokerage is still broken, and we’re here to fix it. The future of brokerage is one in which traders and investors can get fast, simple, and direct access to the US market with no hidden fees, unreasonable practices, and limited customer control. Stake strips away these restrictions to deliver brokerage that’s open, honest and better.”
Millennials Targeted
Another element that gives Stake an edge over the competition is their targeted demographic. Millennials are the primary focal point for the expansion of the Stake brokerage, with more than 50+ millennials in the United Kingdom that could be turned into potential traders. Acquiring the attention of these novice traders will require a three-tier strategy that will make entry-level trading more exciting. Expansions under this strategy have already been completed in South Africa and the United States, with an average client acquisition valuation of 13.4%.
Matt Leibowitz finished his statements to reporters with: “While the UK offers a lot of opportunities, for investors who want to trade the biggest companies in the world – the likes of Amazon, Google or Tesla – you have to trade in the US. We also know that UK investors want to trade ETFs. While other brokerages couldn’t offer this, we always put our customers first and fought to ensure these products were accessible for accredited users.”