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According to Reuters, Robinhood is preparing to acquire BITSTAMP, the leading global cryptocurrency exchange.
Accordingly, US-based trading platform Robinhood agreed to purchase UK-based cryptocurrency exchange Bitstamp for $ 200 million in cash.
In the statement, it was stated that this acquisition is expected to enable Robinhood to expand globally outside the United States and attract corporate customers.
In the statement, it was stated that the entire purchase agreement was made in cash and 200 million dollars and that the agreement is expected to be completed in the first half of 2025.
Robinhood Crypto general manager Johann Kerbrat said:
“The acquisition of Bitstamp is an important step in growing our cryptocurrency business.
Bitstamp's highly trusted and long-standing global exchange has demonstrated resilience throughout market cycles. Thanks to this strategic merger, we are better positioned. “Expanding our footprint outside the US and welcoming our institutional customers to Robinhood.”
UK-based Bitstamp was founded in 2011 and has become one of the largest crypto exchanges in Europe.
*This is not investment advice.