US online brokerage Robinhood announced on Thursday, the 6th, that it has reached an agreement to acquire the cryptocurrency exchange Bitstamp. The transaction is expected to be completed in the first half of 2025, subject to customary closing conditions, including regulatory approvals.
In a press release, Robinhood stated that acquiring a global exchange will significantly accelerate the expansion of its cryptocurrency division, Robinhood Crypto, worldwide. Bitstamp holds over 50 valid licenses and registrations globally, which will bring customers from Europe, the UK, the US, and Asia to Robinhood.
Founded in 2011, Bitstamp was once a major platform for Bitcoin trading, with offices in Luxembourg, the UK, Slovenia, Singapore, and the US. According to the press release, Bitstamp’s core spot exchange offers over 85 tradable assets, and its products like staking and lending will enhance Robinhood’s cryptocurrency services.
Johann Kerbrat, General Manager of Robinhood Crypto, stated, “Through this strategic merger, we will be able to expand our business beyond the US and welcome institutional customers to Robinhood.”
The final transaction price for Robinhood is expected to be approximately $200 million in cash, subject to customary adjustments to the acquisition price.
JB Graftieaux, CEO of Bitstamp, commented: