An Interview with Peter Sumer, COO at BITmarkets

BITmarkets is without doubt one of the distinguished names within the crypto business. Not too long ago, we interviewed the COO of BITmarkets, Peter Sumer to get a greater understanding of the distinction they’re making within the ecosystem.

Q: Hello Peter, allow us to begin together with your introduction to our readers. As a Chief Working Officer (COO) with BITmarkets, what challenges do you face within the crypto trade?

A: One of many primary challenges is the wrestle with the banking sector and discovering potential liaise and cooperation with conventional finance sector following the FTX occasions. We are attempting to carry transparency by way of our actions and presence at a number of occasions in addition to totally talk with banking and regulatory executives to grasp their wants and desires so we are able to velocity up the connection between the normal and digital worlds. One other problem in fact is the battle for market share the place we do our greatest to offer the utmost providers to our prospects by way of advantages like native buyer assist or newly added options which you’ll discover right here.

Q: You will have moved from the mainstream funding business to a crypto firm. In your opinion, what are the important thing variations and shared similarities between each sectors?

A: By way of services, each sectors at present attempt to offer purchasers with quick access to capital and liquidity, thus making it handy for them to commerce or hedge. Nevertheless, I can nonetheless see the variations in how one tries to make it simpler than the opposite. Our monetary expertise is the bridge to an entire new degree of finance. I can see much more consideration being paid to the FinTech business within the upcoming years than ever earlier than. That is additionally primarily due to its simpler method of reference to the substitute intelligence.

Q: In its first yr of existence, BITmarkets has grown quickly. Is your crypto trade nonetheless within the preliminary dynamic progress section, or have you ever already reached your main targets and consolidated your portfolio of purchasers and providers?

A: We have now new targets now and people are surpassing the earlier ones. By how briskly now we have grown in 1 yr, I consider that with an excellent workforce of representatives and professionals, we are able to obtain extra targets. You possibly can count on to listen to much more about BITmarkets within the foreseeable future.

Q: What are the areas BITmarkets at present operates in, and the place do you assume the untapped potential essential for widening the shopper base lies?

A: At present, we primarily function in Center and Southern Europe in addition to attempting to ascertain roots in Spain and Germany. Nevertheless, we see large potential within the Center East. There’s a lot curiosity and enthusiasm in that area for digital property that you just can not actually miss it. Resulting from this truth, I’m looking for one of the simplest ways the way to increase our vary of services thereby speaking with the authorities and assembly with numerous professionals from this space to present BITmarkets what it must develop additional.

Q: What are your different plans for BITmarkets, particularly on the subject of increasing the attain and making certain ease of accessibility to all?

A: Working with regulators and business professionals, listening to our prospects’ wants, and maintaining the identical imaginative and prescient of collaborating in what may very well be the most important transition of the century. Aside from the Center East, we see BITmarkets increasing its attain into Southeast Asia. We’ll attend one other Crypto Expo in Singapore this June. The town itself has lots to supply contemplating it’s one of the vital distinguished monetary facilities on the earth with such a classy economic system and system. Our presence there will certainly unlock new potential for the following enlargement and including new providers to our product portfolio.

Q: You will have been a well-known face at a number of crypto business occasions, most not too long ago at crypto summits in Bahrain and Dubai.

A: Sure, there I at all times understand how vital it’s to satisfy our companions, merchants, blockchain specialists and different “crypto species” in individual. These occasions are an excellent alternative for the neighborhood to increase its horizons.

Q: What are the important thing takeaways from these occasions?

A: The primary takeaway for us is accountability for our neighborhood. Although, for instance, the summit in Bahrain was an incredible success for BITmarkets, as our venture was named the Finest Crypto Change and, additionally was awarded with the accolade of Finest Crypto Academy, the key conclusion is accountability. When the neighborhood so extremely values training and information, you’re obliged to satisfy its wants and ship much more.

Q: In your interactions with different crypto business in addition to authorities representatives, what are the most typical views and issues concerning the way forward for crypto shared by all?

A: Properly, the new matters being mentioned now are the regulatory framework and the inclusion of CBDCs. The European Parliament has not too long ago authorised the regulatory framework referred to as MiCA (Markets in Crypto Belongings), so we are attempting to deeply perceive the potential settings for cryptocurrency markets within the close to future. I’m very pleased that the authorities are doing their finest to offer a secure atmosphere to function in for all of us, which will certainly carry new faces to the FinTech business in spite of everything.

Q: May you summarize prevailing tendencies throughout the business usually, and, additionally, particularly within the space of crypto exchanges?

A: Greatest consideration is now being paid to the banking business and its turmoil. It’s a destructive pattern however nonetheless an undesirable a part of conventional finance. I actually hope that we gained’t witness any extra financial institution runs and that FED and another skilled traders will assist regain belief within the banking system because it’s the principle pillar of the finance world. Nevertheless, I consider that the crypto business has plenty of potential as a result of its decentralization and transparency. I see that traders are slowly beginning to search for enterprise ventures within the crypto business the place their funds will stay secure in addition to extra appreciated sooner or later.

Q: What do you assume is missing in at this time’s crypto business? Any concepts on how these points may be resolved?

A: Schooling. We get forward of time rapidly, particularly within the expertise sector, and we have to guarantee that we educate our potential prospects on issues associated to cryptocurrencies and blockchain applied sciences correctly. We worth the time our prospects commit to us and attempt to make this time a useful expertise for them by offering wonderful customer support. I consider that the extra focus we placed on the academic half, the higher we perceive our prospects’ wants.