US online brokerage Robinhood announced on Thursday (6th) that it has reached an agreement to acquire cryptocurrency exchange Bitstamp. The transaction is expected to be completed in the first half of 2025, subject to customary closing conditions including regulatory approvals.
In the press release, Robinhood stated that acquiring a global exchange will greatly accelerate the expansion of its cryptocurrency division, Robinhood Crypto, worldwide. Bitstamp holds over 50 valid licenses and registrations globally, which will bring customers from Europe, the UK, the US, and Asia to Robinhood.
Established in 2011, Bitstamp was once a major platform for Bitcoin trading and has offices in Luxembourg, the UK, Slovenia, Singapore, and the US. According to the press release, Bitstamp’s core spot exchange offers over 85 tradable assets, and its products such as staking and lending will enhance Robinhood’s cryptocurrency services.
Johann Kerbrat, General Manager of Robinhood Crypto, stated, “Through this strategic merger, we will be able to better expand our business beyond the US and welcome institutional clients to Robinhood.”
Robinhood expects the final transaction price to be approximately $200 million in cash, subject to customary purchase price adjustments.
JB Graftieaux, CEO of Bitstamp, stated:
