Robinhood Markets, Inc. — a well-liked buying and selling platform — introduced on Thursday that it has entered into an settlement to accumulate cryptocurrency trade Bitstamp Ltd.
The acquisition, anticipated to shut within the first half of 2025 topic to regulatory approvals and different customary closing circumstances, is valued at roughly $200 million in money. The transfer is anticipated to speed up Robinhood Crypto’s international growth, as Bitstamp holds over 50 lively licenses and registrations worldwide and has a buyer base spanning the EU, UK, US, and Asia.
This acquisition may even introduce Robinhood’s first institutional enterprise, as Bitstamp has established relationships with institutional purchasers and provides providers akin to white-label options, institutional lending, and staking.
Bitstamp’s spot trade, which helps over 85 tradable property, together with its staking and lending merchandise, shall be built-in into Robinhood’s crypto providing. The Bitstamp workforce will be a part of Robinhood, fostering collaboration and data sharing throughout continents.
Longest-running crypto trade
Johann Kerbrat, Common Supervisor of Robinhood Crypto, acknowledged that the acquisition is a significant step in rising the corporate’s crypto enterprise and can higher place them to increase outdoors of america and welcome institutional prospects. JB Graftieaux, CEO of Bitstamp stated:
Because the world’s longest working cryptocurrency trade, Bitstamp is called one of many most-trusted and clear crypto platforms worldwide. […] Bringing Bitstamp’s platform and experience into Robinhood’s ecosystem will give customers an enhanced buying and selling expertise.
Each corporations have promised that they will anticipate the identical degree of service, safety, and reliability following the acquisition. Barclays Capital Inc. served because the unique monetary advisor to Robinhood, whereas Galaxy Digital Companions LLC suggested Bitstamp.
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