HOOD - Robinhood to Acquire Bitstamp | Benzinga
This acquisition will bring Bitstamp's globally-scaled crypto exchange to Robinhood, with retail and institutional customers across the EU, UK, US and Asia.
This strategic combination better positions Robinhood to expand outside of the US and will bring a trusted and reputable institutional business to Robinhood.
Expected to close in the first half of 2025, subject to customary closing conditions, including regulatory approvals.
MENLO PARK, Calif., June 06, 2024 (GLOBE NEWSWIRE) -- Robinhood Markets, Inc. ("Robinhood") has entered into an agreement to acquire Bitstamp Ltd. ("Bitstamp"), a global cryptocurrency exchange. Bitstamp was founded in 2011 and has offices in Luxembourg, the UK, Slovenia, Singapore, and the US.
Acquiring a global exchange will significantly accelerate Robinhood Crypto's expansion worldwide. Bitstamp holds over 50 active licenses and registrations globally and will bring in customers across the EU, UK, US and Asia to Robinhood.
This acquisition will introduce Robinhood's first institutional business. Bitstamp has been trusted by its institutional clients for reliable trade execution, deep order books and industry-leading API connectivity. With Bitstamp's other institutional offerings like white label solution Bitstamp-as-a-service, institutional lending, and staking, Robinhood will enter the space with active and established relationships, infrastructure and industry-leading products. Bitstamp's core spot exchange, with over 85 tradable assets, and products like staking and lending, will enhance Robinhood's Crypto offering.
"The acquisition of Bitstamp is a major step in growing our crypto business. Bitstamp's highly trusted and long standing global exchange has shown ...