⚡ Robinhood Acquires Bitstamp Crypto Exchange
posted 6 Jun 2024
Robinhood has entered into an official agreement to acquire the global cryptocurrency exchange Bitstamp. This deal will enable the platform to offer cryptocurrency trading services outside the U.S., as Bitstamp holds over 50 active licenses and registrations worldwide.
The acquisition of Bitstamp is a major step in growing our crypto business,stated Johann Kerbrat, CEO of Robinhood Crypto.
The Bitstamp team will also guide Robinhood employees through operations on each continent. Furthermore, this deal marks the launch of Robinhood’s first institutional business, catering to high-net-worth clients currently using Bitstamp.
The deal is preliminarily valued at $200 million in cash, with the closure expected in the first half of 2025 pending regulatory approval. Barclays Capital and Galaxy Digital acted as financial advisors for both parties in this agreement.
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