Breaking: Robinhood to Acquire Bitstamp Crypto Exchange in $200 Million All-Cash Deal

cryptonews.com:

Robinhood Markets has announced an agreement to acquire Bitstamp Ltd ., one of the oldest and most respected cryptocurrency exchanges, in a $200 million all-cash deal.

This acquisition aims to accelerate Robinhood’s global expansion and mark its entry into the institutional crypto business.

Although still subject to regulatory approvals and expected to close in the first half of 2025, the deal will expand Robinhood’s offerings with Bitstamp’s established crypto platform and extensive global licenses.

We’re accelerating Robinhood Crypto’s worldwide expansion. Robinhood has officially entered into an agreement to acquire @Bitstamp, a global cryptocurrency exchange with customers across the EU, UK, US and Asia.

More details: https://t.co/wk3x02z0rU pic.twitter.com/aadKzhCxlx

— Robinhood (@RobinhoodApp) June 6, 2024

Robinhood Markets, the well-known investing and trading platform, has agreed to acquire Bitstamp Ltd., a globally recognized cryptocurrency exchange, for approximately $200 million in cash.

Bitstamp was founded in 2011 and has a robust presence in Luxembourg, the UK, Slovenia, and the US, with recent approval for services in Singapore.

This strategic acquisition aims to accelerate Robinhood Crypto’s global expansion, leveraging Bitstamp’s over 50 active licenses and registrations. The deal will extend Robinhood’s reach across the EU, UK, US, and Asia, attracting a diverse customer base. Per JB Graftieaux, CEO of Bitstamp:

“As the world’s longest-running cryptocurrency exchange, Bitstamp is known as one of the most trusted and transparent crypto platforms worldwide. Bringing Bitstamp’s platform and expertise into Robinhood’s ecosystem will give users an enhanced trading experience with a continuing commitment