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News

Robinhood to acquire Bitstamp for USD 200 mln in cash

Friday 7 June 2024 15:28 CET | News

Robinhood has entered into an agreement to acquire Bitstamp, a global cryptocurrency exchange, in an aim to accelerate Robinhood Crypto’s expansion worldwide. 

 

According to the official announcement, this acquisition will introduce Robinhood’s first institutional business. Bitstamp has been trusted by its institutional clients for reliable trade execution, deep order books and industry-leading API connectivity.  


Expanding crypto Services with global reach 

With Bitstamp’s other institutional offerings like white label solution Bitstamp-as-a-service, institutional lending, and staking, Robinhood is expected to enter the space with active and established relationships, infrastructure and products. Bitstamp’s core spot exchange, with over 85 tradable assets, and products like staking and lending, will enhance Robinhood’s Crypto offering.  

Bitstamp holds over 50 active licenses and registrations globally and will bring in customers across the EU, UK, US, and Asia to Robinhood. 

 

Robinhood has entered into an agreement to acquire Bitstamp, a global cryptocurrency exchange, in an aim to accelerate Robinhood Crypto’s expansion worldwide.

 

Furthermorem, Bitstamp’s team is set to join forces with Robinhood, fostering collaboration, innovation, and knowledge sharing across continents. The announcement continues to explain that Robinhood and Bitstamp customers can expect the same level of service, security, and reliability and as both entities move forward, they are committed to maintaining transparency throughout this process. 

Robinhood expects the final deal consideration to be approximately USD 200 million in cash, subject to customary purchase price adjustments. The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close in the first half of 2025. 

Source: Link


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Keywords: cryptocurrency, crypto, acquisition, expansion
Categories: DeFi & Crypto & Web3
Companies: Bitstamp, Robinhood
Countries: World
This article is part of category

DeFi & Crypto & Web3

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Bitstamp

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