Robinhood Markets, Inc., is ready to amass world crypto alternate Bitstamp to increase its attain exterior the US. The acquisition, which is anticipated to shut in 2025, will grow to be Robinhood’s first institutional purchase.
Robinhood Eyes International Growth
Robinhood’s buying and selling platform introduced it had agreed to purchase Bitstamp to extend its world presence. The acquisition will carry Bitstamp’s retail and institutional clients to Robinhood.
The deal is anticipated to value round $200 million in money and shut within the first half of 2025, though it may be topic to customary worth adjudgments and regulatory approvals.
Based in 2011, Bitstamp’s world presence contains workplaces in Luxembourg, the UK, Slovenia, Singapore, and the US. The alternate additionally holds over 50 lively licenses and registrations worldwide and affords over 85 tradable belongings.
In keeping with the press launch, Bitstamp’s institutional choices, together with institutional lending and Bitstamp-as-a-service, will supply the buying and selling platform lively and established relationships and the infrastructure to enter the area.
A Main Step For Robinhood’s Crypto Providing
The buying and selling platform hopes to speed up its growth worldwide and improve its crypto providing with the acquisition. Johann Kerbrat, the corporate’s Crypto Basic Supervisor, believes the deal marks a big step for the corporate:
The acquisition of Bitstamp is a serious step in rising our crypto enterprise. Bitstamp’s extremely trusted and lengthy standing world alternate has proven resilience by means of market cycles. By seamlessly coupling buyer expertise with security throughout geographies, the Bitstamp workforce has established one of many strongest reputations throughout retail and institutional crypto traders. By this strategic mixture, we’re higher positioned to increase our footprint exterior of the US and welcome institutional clients to Robinhood.
Equally, JB Graftieaux, CEO of Bitstamp, expressed his pleasure about bringing the 2 corporations collectively. He said:
Because the world’s longest working cryptocurrency alternate, Bitstamp is named one of many most-trusted and clear crypto platforms worldwide. Bringing Bitstamp’s platform and experience into Robinhood’s ecosystem will give customers an enhanced buying and selling expertise with a unbroken dedication to compliance, safety, and customer-centricity.
Whole crypto market capitalization is at $2.57 trillion within the three-day chart. Supply: TOTAL on TradingView
Featured Picture from newsroom.aboutrobinhood.com, Chart from TradingView.com
