Crypto exchange Bitstamp said Monday it will boost U.S. operations to keep up with a surge in new customers and assets under management.

• London-based Bitstamp will “triple” its 11-person U.S. team and increase customer support by 50% in 2021.
• It will lean into its bitcoin-backed loans partnership with Silvergate Bank and said in a blog post it “believes” it can dole out $250 million in the institution-focused loans this year.
• The expansion comes as exchanges around the world race to keep up with a stream of new clients. 
• Bitstamp reported $1.1 billion in U.S. crypto under management (11% of Bitstamp’s total) and 1.63 million U.S. customers (36% of its global base).