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Robinhood to buy crypto firm Bitstamp for $200m
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finextra.comFounded in 2011, UK-based Bitstamp has over 50 active licenses and registrations globally and will bring in customers across the EU, UK, US and Asia to Robinhood, helping the platform take on major exchanges such as Coinbase.
Bitstamp’s core spot exchange, with over 85 tradable assets, and products like staking and lending, will also help Robinhood move beyond the retail market and secure institutional clients.
Johann Kerbrat, GM, Robinhood Crypto, says: “Through this strategic combination, we are better positioned to expand our footprint outside of the US and welcome institutional customers to Robinhood.”
The Bitstamp team will join Robinhood when the deal closes in the first half of next year, subject to closing conditions.
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