Robinhood Markets, Inc., is about to amass world crypto alternate Bitstamp to increase its attain outdoors the US. The acquisition, which is predicted to shut in 2025, will change into Robinhood’s first institutional purchase.
Robinhood Eyes International Growth
Robinhood’s buying and selling platform announced it had agreed to purchase Bitstamp to extend its world presence. The acquisition will convey Bitstamp’s retail and institutional prospects to Robinhood.
The deal is predicted to value round $200 million in money and shut within the first half of 2025, though it may be topic to customary value adjudgments and regulatory approvals.
Based in 2011, Bitstamp’s world presence contains places of work in Luxembourg, the UK, Slovenia, Singapore, and the US. The alternate additionally holds over 50 lively licenses and registrations worldwide and affords over 85 tradable belongings.
In accordance with the press launch, Bitstamp’s institutional choices, together with institutional lending and Bitstamp-as-a-service, will provide the buying and selling platform lively and established relationships and the infrastructure to enter the area.
A Main Step For Robinhood’s Crypto Providing
The buying and selling platform hopes to speed up its enlargement worldwide and enhance its crypto providing with the acquisition. Johann Kerbrat, the corporate’s Crypto Common Supervisor, believes the deal marks a big step for the corporate:
The acquisition of Bitstamp is a significant step in rising our crypto enterprise. Bitstamp’s extremely trusted and lengthy standing world alternate has proven resilience by market cycles. By seamlessly coupling buyer expertise with security throughout geographies, the Bitstamp staff has established one of many strongest reputations throughout retail and institutional crypto traders. By means of this strategic mixture, we’re higher positioned to increase our footprint outdoors of the US and welcome institutional prospects to Robinhood.
Equally, JB Graftieaux, CEO of Bitstamp, expressed his pleasure about bringing the 2 corporations collectively. He said:
Because the world’s longest operating cryptocurrency alternate, Bitstamp is called one of many most-trusted and clear crypto platforms worldwide. Bringing Bitstamp’s platform and experience into Robinhood’s ecosystem will give customers an enhanced buying and selling expertise with a seamless dedication to compliance, safety, and customer-centricity.
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