Robinhood to Acquire Bitstamp for $200 Million:
- Acquisition Details:
- Robinhood is set to buy global cryptocurrency exchange Bitstamp for approximately $200 million.
- The deal is subject to regulatory approvals and expected to close in the first half of 2025.
- Strategic Impact:
- This acquisition will mark the formation of Robinhood’s first institutional business.
- It will fuel Robinhood’s global expansion by leveraging Bitstamp’s extensive customer base in the EU, UK, USA, and Asia.
- Bitstamp’s Credentials:
- Bitstamp holds over 50 licenses and registrations worldwide.
- Known for reliable trade execution, deep order books, and industry-leading API connectivity.
- Institutional Offerings:
- Bitstamp provides services like white label solution Bitstamp-as-a-service, institutional lending, and staking.
- These offerings will enable Robinhood to enter the space with established relationships and infrastructure.
- Enhanced Crypto Offering:
- Robinhood aims to integrate Bitstamp’s core spot exchange solution, which includes over 85 tradable assets, to enhance its crypto services.
- Company Integration:
- Bitstamp, founded in 2011, operates offices in the UK, Luxembourg, Slovenia, Singapore, and the USA.
- All Bitstamp teams will merge with Robinhood, promoting collaboration and innovation across continents.
