Bitrabo Editorial
Robinhood Markets, Inc. is planning to acquire Bitstamp, a global cryptocurrency exchange, to broaden its scope beyond the US. This acquisition, anticipated to be completed in 2025, will represent Robinhood’s first significant purchase in the institutional realm.
Robinhood’s Strategic Move for Global Growth
Robinhood’s trading platform has confirmed its intention to purchase Bitstamp in order to extend its international footprint. Through this acquisition, Bitstamp’s diverse customer base, spanning retail and institutional clients, will become part of Robinhood.
The acquisition is projected to involve approximately $200 million in cash and is slated to be finalized in the first half of 2025, contingent upon standard price adjustments and regulatory clearances.
Established in 2011, Bitstamp has a global presence with offices in various countries including the UK, Luxembourg, Slovenia, Singapore, and the US. The exchange holds more than 50 operational licenses and registrations globally and offers a wide array of over 85 tradable assets.
Bitstamp’s institutional services, such as institutional lending and Bitstamp-as-a-service, will bring both active relationships and the necessary infrastructure for Robinhood to enter this domain, as per the press release.
Significant Progress for Robinhood’s Crypto Services
Robinhood aims to expedite its global expansion efforts and enhance its cryptocurrency offerings through this acquisition. Johann Kerbrat, the Crypto General Manager at Robinhood, views this deal as a pivotal moment for the company:
The acquisition of Bitstamp is a crucial advancement in scaling our crypto operations. Bitstamp’s globally trusted and long-standing exchange has demonstrated resilience throughout various market cycles. By seamlessly integrating customer experience with security measures across different regions, the Bitstamp team has earned a strong reputation among retail and institutional crypto investors. Through this strategic integration, we are better equipped to extend our influence beyond the US and cater to institutional clients at Robinhood.
Similarly, JB Graftieaux, CEO of Bitstamp, shared his enthusiasm about the merger of the two entities, highlighting:
Being recognized as one of the most reliable and transparent cryptocurrency platforms globally, Bitstamp stands as the longest-serving crypto exchange. Merging Bitstamp’s platform and expertise with Robinhood’s ecosystem will offer users an enriched trading experience while upholding a steadfast dedication to compliance, security, and customer satisfaction.