Robinhood, a well-known cryptocurrency trading app, has officially announced its plans to acquire Bitstamp, a leading European-based exchange, for approximately $200 million. The confirmation of this development was made in a press release today, highlighting the agreement reached between Robinhood and Bitstamp.
As part of the deal, Robinhood will pay nearly $200 million in cash for the acquisition, with the expected completion date set for the first half of 2025, pending regulatory approval. This acquisition will position Robinhood to compete with other major cryptocurrency exchanges such as Coinbase and Binance. Bitstamp, founded in 2011, currently has offices in Luxembourg, Slovenia, the U.K., the U.S., and Singapore.
In addition to its physical presence in various regions, Bitstamp holds more than 50 active licenses that allow it to operate globally. The acquisition of Bitstamp is expected to accelerate Robinhood’s expansion into European and Asian markets.
Through this deal, Robinhood will also extend its services to institutional clients, leveraging Bitstamp’s efficient trade execution, top-tier API connectivity, and extensive order books. The aim is to provide institutional clients with a range of services, including institutional lending and staking.
CEO and founder of Robinhood, Vlad Tenev, expressed the company’s belief in the transformative potential of cryptocurrency in reshaping the global financial system. Tenev stated that the acquisition of Bitstamp will further Robinhood’s vision of integrating cryptocurrency into mainstream finance, combining Bitstamp’s global footprint and industry-leading products with Robinhood’s offerings.
This development comes at a time when Robinhood is facing regulatory scrutiny in the United States, having received a Wells Notice from the SEC indicating a potential enforcement action against the company. Despite this, the acquisition of Bitstamp will provide Robinhood with access to over 80 tradable assets and other products, significantly expanding its offerings.
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