Wednesday, June 12, 2024
21.9 C
New York

Robinhood to acquire Bitstamp in $200m deal

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.

Hot this week

Banking as a Service: Meaning, Examples, Benefits and Future

The push for open banking has led to a...

What is Fintech?

Fintech: A term used to refer to innovations in...

Best fintech blogs and websites

Fintech (financial technology) has been an interesting part of...

How to buy shares online

Buying shares online in India has come a long...

Is it worth investing in life insurance over 60?

Is it worth investing in life insurance over 60? As...

U.S. Bank taps Greenlight for family-focused money management tools

U.S. Bank Partners with Greenlight to Enhance Financial Literacy...

Finseta offloads non-trading subsidiary Capital Currencies to undisclosed buyer for £150,000

Summary of Finseta's Sale of Capital Currencies:Transaction Overview:...

Peru becomes first South American country to adopt NPCI’s UPI tech

Summary of BCRP and NPCI International Partnership:Partnership Overview:...

Beobank selects Viva to power new corporate payment solutions for SMEs in Belgium

Beobank and Viva Partnership - Key Points:Partnership Objective:...

Siri and Google Assistant look to generative AI for a new lease on life

There’s a lot riding on next week’s WWDC 2024...

Centenary Bank embarks on tech overhaul with Oracle Flexcube core banking system

Centenary Bank Technology Transformation - Key Points:Bank Overview:...

Related Articles

Popular Categories