Robinhood has announced its agreement to acquire global crypto exchange Bitstamp for approximately $200 million in cash. The acquisition, subject to regulatory approvals and customary closing conditions, is expected to be finalized in the first half of 2025. Barclays and Galaxy Digital Partners were exclusive financial advisors to Robinhood and Bitstamp, respectively.Bitstamp, founded in 2011, operates in multiple regions, including Luxembourg, the UK, Slovenia, Singapore, and the US. The exchange holds over 50 active licenses and registrations globally, which could be a major reason for the move to fast-track regulatory hurdles as Robinhood looks to expand its offerings. This acquisition will significantly enhance Robinhood Crypto’s global footprint, bringing in customers from the EU, UK, US, and Asia.Robinhood CEO Vlad Tenev told CNBC last month, following its Wells Notice from the SEC, that it had struggled to navigate US regulatory requirements.“We tried to create what we call a special purpose broker-dealer for transacting in crypto assets… Unfortunately, a clear path forward with the SEC never emerged, and they did not reciprocate our efforts.”The acquisition is designed to strengthen Robinhood’s position in the crypto market and draw in institutional clients with new product offerings. Bitstamp’s institutional services—including white-label solutions, institutional lending, and staking—will be integrated into Robinhood’s ecosystem, creating a comprehensive suite of crypto products. Additionally, Bitstamp’s core spot exchange, which features over 85 tradable assets, will further enhance Robinhood’s crypto offerings.Johann Kerbrat, General Manager of Robinhood Crypto, emphasized that the acquisition is a strategic move to grow their crypto business, leveraging Bitstamp’s established reputation and resilient market presence. JB Graftieaux, CEO of Bitstamp, highlighted that the integration will enhance users’ trading experience while maintaining a strong commitment to compliance, security, and customer-centricity.The acquisition is expected to introduce Robinhood’s first institutional business, leveraging Bitstamp’s platform and expertise. This strategic combination positions Robinhood to expand its footprint outside the US and welcome institutional customers, fostering collaboration, innovation, and knowledge sharing across continents.Also known as “Akiba,” Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.CryptoSlate is a comprehensive and contextualized source for crypto news, insights, and data. Focusing on Bitcoin, macro, DeFi and AI. Daily digest of top crypto stories and market insights. Never miss out.The S-1 filing follows the SEC’s approval of NYSE Arca’s proposed rule change on behalf of ProShares.Rob Marrocco believes crypto ETFs beyond Bitcoin and Ethereum are unlikely without first establishing a futures market or changing regulation.Ripple said Standard Custody CEO Jack McDonald would help the firm achieve its USD-backed stablecoin plans.The examinations will determine S&C’s awareness of FTX misconduct and potential conflicts during SBF’s Robinhood shares acquisition.CryptoSlate’s latest market report dives deep into the effects corporate Bitcoin purchases have on the market.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
