- Robinhood has agreed to a new acquisition.
- The acquisition deal involves a long-running crypto exchange.
- Robinhood said the acquisition will accelerate the global expansion of its crypto unit.
Robinhood Markets, Inc. announced Thursday its plan to acquire crypto exchange Bitstamp in a multimillion-dollar deal subject to customary closing conditions.
Founded in 2011, Bitstamp is among the world’s longest-running exchanges with over 50 active licenses and registrations globally. The company has offices in Luxembourg, the UK, Slovenia, Singapore, and the US.
Robinhood to Buy Bitstamp
In a press release dated June 6, Robinhood said it has agreed to acquire Bitstamp Ltd. in a $200 million deal, enabling the trading app to introduce its first institutional business and expand outside the U.S., where its crypto unit faces SEC’s scrutiny.
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Post-acquisition, Robinhood will tap Bitstamp’s reliable trade execution, deep order books, and industry-leading API connectivity to attract and retain institutional clients.
“With Bitstamp’s other institutional offerings like white label solution Bitstamp-as-a-service, institutional lending, and staking, Robinhood will enter the space with active and established relationships, infrastructure and industry-leading products,” the statement read.
The acquisition will also allow Robinhood to leverage Bitstamp’s core spot exchange with over 85 tradeable assets and DeFi products like lending and staking to bolster its crypto services and acquire customers in the U.S., UK, EU, and Asia.
“The acquisition of Bitstamp is a major step in growing our crypto business. Bitstamp’s highly trusted and long standing global exchange has shown resilience through market cycles,” Johann Kerbrat, General Manager of Robinhood Crypto, said.
While Robinhood is optimistic about closing the acquisition in the first half of 2025, the final deal consideration is subject to various conditions, including customary purchase price adjustments and regulatory approvals.
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