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Robinhood Markets has agreed to purchase Bitstamp, a leading cryptocurrency exchange, for $200 million in cash. This acquisition marks Robinhood’s largest deal to date and is part of its strategy to expand its cryptocurrency offerings.
We’re accelerating Robinhood Crypto’s worldwide expansion. Robinhood has officially entered into an agreement to acquire @Bitstamp, a global cryptocurrency exchange with customers across the EU, UK, US and Asia.
— Robinhood (@RobinhoodApp) June 6, 2024
More details: https://t.co/wk3x02z0rU pic.twitter.com/aadKzhCxlx
Bitstamp, founded in 2011, brings over 85 tradable assets and significant regulatory approvals to Robinhood’s platform. The deal will enhance Robinhood Crypto’s growth and facilitate its global expansion, especially in Europe and Asia. Despite regulatory challenges in the U.S., Robinhood remains committed to engaging with regulators. The acquisition is expected to close in the first half of 2025.
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