Robinhood Markets, Inc., is set to acquire global crypto exchange Bitstamp to expand its reach outside the US. The acquisition, which is expected to close in 2025, will become Robinhood’s first institutional buy.
Robinhood Eyes Global Expansion
Robinhood’s trading platform announced it had agreed to buy Bitstamp to increase its global presence. The acquisition will bring Bitstamp’s retail and institutional customers to Robinhood.
The deal is expected to cost around $200 million in cash and close in the first half of 2025, although it can be subject to customary price adjudgments and regulatory approvals.
Founded in 2011, Bitstamp’s global presence includes offices in Luxembourg, the UK, Slovenia, Singapore, and the US. The exchange also holds over 50 active licenses and registrations worldwide and offers over 85 tradable assets.
According to the press release, Bitstamp’s institutional offerings, including institutional lending and Bitstamp-as-a-service, will offer the trading platform active and established relationships and the infrastructure to enter the space.
A Major Step For Robinhood’s Crypto Offering
The trading platform hopes to accelerate its expansion worldwide and increase its crypto offering with the acquisition. Johann Kerbrat, the company’s Crypto General Manager, believes the deal marks a significant step for the company:
The acquisition of Bitstamp is a major step in growing our crypto business. Bitstamp’s highly trusted and long standing global exchange has shown resilience through market cycles. By seamlessly coupling customer experience with safety across geographies, the Bitstamp team has established one of the strongest reputations across retail and institutional crypto investors. Through this strategic combination, we are better positioned to expand our footprint outside of the US and welcome institutional customers to Robinhood.
Similarly, JB Graftieaux, CEO of Bitstamp, expressed his excitement about bringing the two companies together. He stated:
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 to compliance, security, and customer-centricity.
Total crypto market capitalization is at $2.57 trillion in the three-day chart. Source: TOTAL on TradingView