In a significant move to expand its presence in the global crypto market, trading platform Robinhood has announced its acquisition of Bitstamp, a U.K.-based crypto exchange. The $200 million all-cash deal is expected to close in the first half of 2025 and is aimed at attracting institutional clients through new product offerings. The agreement, advised by Barclays Capital and Galaxy Digital, underlines the professional guidance involved in the sale process.
Johann Kerbrat, general manager of Robinhood Crypto, expressed that the acquisition of Bitstamp is a crucial step in growing their crypto business. By leveraging Bitstamp’s established relationships, infrastructure, and industry-leading products, Robinhood aims to strengthen its presence outside of the U.S. and welcome institutional customers. The two companies plan to merge and collaborate to ensure consistent service, security, and reliability for customers while maintaining transparency throughout the process.
The merger between Robinhood and Bitstamp is expected to have implications for the retail crypto market in the United States. In a market dominated by competitors like Coinbase, this move by Robinhood signals their commitment to the crypto space and provides competition to attract retail investors. The acquisition marks the launch of Robinhood’s first institutional crypto business, allowing them to access Bitstamp’s pre-established infrastructure and offerings like the white label solution Bitstamp-as-a-service, institutional lending, and staking.
CEO Vlad Tenev believes that crypto has the potential to fundamentally reorganize the financial system, and the acquisition of Bitstamp is aimed at accelerating this vision. By combining forces with Bitstamp’s global footprint and industry-leading products, Robinhood aims to strengthen its cryptocurrency offerings and position itself as a key player in the evolving crypto market. The collaboration between the two companies is expected to bring innovation and knowledge sharing across continents while offering enhanced services to customers.
Overall, the acquisition of Bitstamp by Robinhood marks a significant move in the global crypto market, with the aim of expanding their presence and attracting institutional clients. By combining their strengths and leveraging Bitstamp’s offerings, Robinhood aims to strengthen its cryptocurrency business and provide competition in the retail crypto market. The merger is expected to bring innovation and enhanced services for customers while maintaining transparency and consistency in service delivery.
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