Popular trading platform Robinhood has agreed to acquire cryptocurrency exchange Bitstamp for $200 million in an all-cash deal.
This acquisition aims to strengthen Robinhood’s global presence in the crypto space and attract institutional clients by offering new products. The deal is expected to be finalized in the first half of 2025, pending regulatory approvals and customary closing conditions.
Barclays Capital Inc. served as Robinhood’s exclusive financial advisor, while Galaxy Digital Partners LLC advised Bitstamp.
Johann Kerbrat, General Manager of Robinhood Crypto, emphasized the significance of the acquisition, stating, “The acquisition of Bitstamp is a major step in growing our crypto business. Bitstamp’s highly trusted and longstanding global exchange has shown resilience through market cycles.”
Post-acquisition, the teams from Bitstamp and Robinhood will integrate, leveraging their combined expertise and resources. This move supports Robinhood’s goal of expanding its global reach and attracting institutional clients. Despite recent regulatory scrutiny from the US Securities and Exchange Commission (SEC), Robinhood’s crypto revenue has risen to $618 million, a 40% year-over-year increase.
Additionally, Robinhood launched crypto trading services for clients in the European Union in December.
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