American 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 approval.
In a press release, Robinhood stated that acquiring a global exchange will significantly accelerate the expansion of its cryptocurrency division, Robinhood Crypto, worldwide. Bitstamp holds more than 50 valid licenses and registrations globally, bringing in customers from Europe, the UK, the US, and Asia for Robinhood.
Founded in 2011, Bitstamp was once a major platform for Bitcoin trading, with 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 like staking and lending will enhance Robinhood’s cryptocurrency services.
Johann Kerbrat, General Manager of Robinhood Crypto, stated, “Through this strategic merger, we can better expand our business beyond the US and welcome institutional clients to Robinhood.”
The final transaction price for Robinhood is expected to be around $200 million in cash, subject to customary adjustments of the acquisition price.
JB Graftieaux, CEO of Bitstamp, commented:
