Satstreet Passes $1 Billion Traded
Increasing demand for access to digital assets from corporate treasuries, funds, HNWIs, and companies in the crypto ecosystem has propelled Satstreet - a leading Canadian digital asset trading desk - to surpass $1 Billion in trading volume within its first two years of operations.
A "Private Banking" experience for Digital Assets
Satstreet (the name, which is a play on the words "Sats" and "Wall Street") was founded in the summer of 2020 to close the gap between traditional finance and the new frontier of digital assets.
"Our mission at the outset was to make it easier and more secure for Canadians to buy, trade and sell Bitcoin and other digital assets. Our unwavering focus on servicing high-value clientele (accredited, and permitted investors) has allowed us to deliver a truly bespoke 'white-glove service' that is unmatched in the Canadian market. Over the past two years, we've grown quickly, in large part to the emphasis we place on customer service which in turn led to mostly organic growth by word-of-mouth," explains Satstreet Co-Founder Mke Nasser.
A Bitcoin Treasury Strategy
"Satstreet is a client focused company. We strive to always provide best-in-class services for an important part of the market which we believe is greatly underserved. We also offer Bitcoin educational sessions to help clients better grasp the fast emerging ecosystem," says Co-Founder Jon Lister.
In the Fall of 2020, Satstreet made a strategic decision to capture 50% of their spread in the digital asset being traded, such as Bitcoin (BTC) and Ethereum (ETH). Satstreet's treasury team adjusts the portfolio seeking to maximize the number of Bitcoin they hold on their balance sheet which they believe will greatly outperform other assets in the future.
"Our team has experience in managing significant volatility over the past 5 years. Our conviction in Bitcoin has never been stronger and being able to capitalize on this correction is a very exciting opportunity," says Jon Lister.
When asked if they had purchased Bitcoin during this recent move down, Satstreet confirmed that they purchased more BTC at $18,574 USD.
Satstreet Inc. ("Satstreet") is one of Canada's fastest growing digital currency trading desks headquartered in Toronto, ON. The firm is registered with FINTRAC as a Money Services Business (MSB) and serves accredited and permitted clients across Canada . Satstreet is led by a team of trusted industry professionals with over 8 years of experience in the digital asset space. The firm has raised initial funding from Round13 Capital and several prominent investors. Since opening in the summer of 2020, Satstreet has processed over $1B in transactions.