Robinhood to acquire Bitstamp in $200m deal
Digital trading platform Robinhood has come to an agreement to acquire global cryptocurrency exchange Bitstamp for approximately $200 million.
Robinhood set to buy Bitstamp for $200 million
The cash deal, which remains subject to regulatory approvals, will result in the formation of Robinhood’s first institutional business, along with fuelling the firm’s global expansion.
With Bitstamp holding over 50 licenses and registrations worldwide, Robinhood is poised to tap into the enterprise’s extensive customer base from the EU, UK, USA and Asia.
Moreover, Robinhood claims that in purchasing Bitstamp, it is buying a business that is “trusted by its institutional clients for reliable trade execution, deep order books and industry-leading API connectivity”.
“With Bitstamp’s other institutional offerings like white label solution Bitstamp-as-a-service, institutional lending, and staking, Robinhood will enter the space with active and established relationships, infrastructure and industry-leading products.”
In addition, the acquisition of Bitstamp, anticipated to close in the first half of 2025, represents a “major step in growing our crypto business,” says Johann Kerbrat, the general manager of Robinhood Crypto.
Robinhood envisions that integrating Bitstamp’s core spot exchange solution, boasting over 85 tradable assets, will significantly bolster the firm’s crypto offering.
Founded in 2011, Bitstamp operates offices in the UK, Luxembourg, Slovenia, Singapore and the USA. All its teams are planned to merge with Robinhood, “fostering collaboration, innovation, and knowledge sharing across continents,” according to the California-based fintech.
