In a groundbreaking move, the popular cryptocurrency exchange, Robinhood, made an announcement on June 6th regarding its decision to acquire the renowned trading platform, Bitstamp. This strategic move is a part of Robinhood’s ambitious plan to enhance and expand its presence in the ever-growing crypto industry.
The acquisition of Bitstamp will enable Robinhood to tap into the global-scale crypto exchange market, catering to both retail and institutional clients across key regions such as the EU, UK, US, and Asia. By joining forces with Bitstamp, Robinhood aims to venture beyond the U.S. borders and establish a strong institutional presence in the international market.
The acquisition deal is valued at a whopping US$200 million and is set to be finalized in the first half of the upcoming year, pending regulatory approvals and other customary closing conditions. Johann Kerbrat, the general manager of Robinhood Crypto, emphasized the significance of this acquisition in driving the company’s growth trajectory and expanding its reach to institutional clients worldwide.
Through this strategic collaboration, Robinhood Crypto is expected to witness a rapid expansion globally, leveraging Bitstamp’s extensive network of over 50 active licenses and registrations across various regions. Bitstamp, with its reputation as one of the most trustworthy and transparent crypto platforms globally, will introduce Robinhood to a whole new realm of institutional clientele.
Established in 2011, Bitstamp boasts offices in Luxembourg, the UK, Slovenia, Singapore, and the US, making it one of the oldest and most respected cryptocurrency exchanges in the world. JB Graftieaux, CEO of Bitstamp, highlighted the platform’s commitment to transparency and security, underscoring its position as a market leader in the crypto space.
It is important to note that the opinions expressed in this article are purely informational and should not be considered as financial or investment advice. As with any investment in cryptocurrencies, there is always a risk of financial loss that should be carefully considered.