Robinghood to Purchase Bitstamp for Around 0 Million

Robinghood to Purchase Bitstamp for Around 0 Million

Robinghood to Purchase Bitstamp for Around 0 Million

Robinhood, a financial services company based in Menlo Park, California, has announced the acquisition of Bitstamp Ltd., a global cryptocurrency exchange. The final deal consideration is expected to be approximately 0 million in cash, pending customary purchase price adjustments. This acquisition will bring Bitstamp’s globally-scaled crypto exchange to Robinhood, expanding its reach to retail and institutional customers in the EU, UK, US, and Asia. The transaction is anticipated to close in the first half of 2025.

Bitstamp, founded in 2011 and led by CEO JB Graftieaux, is a global exchange holding over 50 active licenses and registrations worldwide. With offices in Luxembourg, the UK, Slovenia, Singapore, and the US, Bitstamp will bring in a diverse customer base to Robinhood. The core spot exchange of Bitstamp, offering over 85 tradable assets and services like staking and lending, will enhance Robinhood’s Crypto offering. Additionally, Bitstamp’s institutional offerings such as white label solution Bitstamp-as-a-service, institutional lending, and staking will provide Robinhood with established relationships, infrastructure, and leading industry products as it enters this space.

This strategic move is expected to bolster Robinhood’s presence in the cryptocurrency market and offer customers a wider range of products and services.