Robinhood, a prominent cryptocurrency trading app, has officially announced its intentions to acquire Bitstamp, a leading European-based exchange, for approximately $200 million. This confirmation was made in a press release today, highlighting the agreement reached between Robinhood and Bitstamp.
In this deal, Robinhood will pay nearly $200 million in cash for the acquisition, with the expected completion date set for the first half of 2025 pending regulatory approval. This acquisition will position Robinhood to compete with other major cryptocurrency exchanges such as Coinbase and Binance.
Bitstamp, established in 2011, currently operates offices in Luxembourg, Slovenia, the U.K., the U.S., and Singapore. With over 50 active licenses, Bitstamp is able to operate in various regions across the globe.
The acquisition of Bitstamp will accelerate Robinhood’s global expansion plans, particularly in Europe and Asia. Additionally, Robinhood will now be able to cater to institutional clients, offering them efficient trade execution, top-tier API connectivity, and extensive order books.
Vlad Tenev, CEO, and founder of Robinhood, expressed the company’s belief in the transformative potential of cryptocurrency in reshaping the global financial system. The acquisition of Bitstamp will help Robinhood in integrating cryptocurrency into mainstream finance, with plans to offer a range of institutional services including lending and staking.
Despite this positive development, Robinhood is currently facing regulatory scrutiny in the U.S. after receiving a Wells Notice from the SEC. This regulatory action comes as a surprise given Robinhood’s cautious approach in listing tokens compared to other U.S.-based exchanges. However, with the acquisition of Bitstamp, Robinhood will have access to over 80 tradable assets and a variety of products to offer its users.
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