Robinhood, a cryptocurrency exchange platform, made an exciting announcement on June 6 regarding its plans to acquire the popular trading platform, Bitstamp. This strategic move is part of Robinhood’s larger goal to expand and solidify its presence in the crypto industry.
The acquisition of Bitstamp will allow Robinhood to incorporate its global-scale crypto exchange, serving both retail and institutional clients across the EU, UK, US, and Asia. This strategic partnership positions Robinhood for international expansion and introduces a reputable institutional business to its platform.
The purchase agreement is valued at a substantial US$200 million and is slated to be finalized in the first half of next year, pending customary closing conditions and regulatory approvals. This deal is expected to be completed by 2025, with the final cash value estimated at approximately $200 million.
Johann Kerbrat, the general manager of Robinhood Crypto, emphasized the significance of acquiring Bitstamp as a crucial step in the company’s growth trajectory. This strategic move will pave the way for Robinhood to reach new markets and welcome institutional clients to its platform.
Estimates suggest that this acquisition of a global exchange will greatly accelerate Robinhood Crypto’s expansion worldwide. With over 50 active licenses and registrations globally, Bitstamp will bring customers from various regions to Robinhood, marking the introduction of its first institutional business.
Bitstamp, established in 2011, boasts offices in Luxembourg, the UK, Slovenia, Singapore, and the US. As one of the world’s oldest and most trusted cryptocurrency exchanges, Bitstamp is known for its transparency and reliability in the crypto space, as noted by JB Graftieaux, the CEO of Bitstamp.
Disclaimer: The information presented in this article is solely for informational purposes and should not be construed as financial or investment advice. Investing in cryptocurrencies carries inherent risks of financial loss.
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