Saturday, December 21
    News Junkie Paradise – Whatfinger News - More news daily than any other news site on Earth - CLICK HERE

    Robinhood’s $200 Million Acquisition of Bitstamp: Expanding Crypto Presence Globally

    nephilaBy Business And Money 3 Mins Read

    Thanks to the recent upswing in Bitcoin and Dogecoin and other crypto, Robinhood has the resources to make moves.

    Trading platform Robinhood has announced its agreement to acquire crypto exchange Bitstamp in a $200 million all-cash deal aimed at bolstering its global presence in the cryptocurrency market and attracting institutional clients. The acquisition, expected to be finalized in the first half of 2025, marks a significant move for Robinhood as it seeks to expand beyond the U.S. market.

    Bitstamp, a U.K.-based crypto exchange established in 2011, has emerged as one of Europe’s largest cryptocurrency exchanges. Offering spot trading for over 85 cryptocurrencies, along with institutional lending and staking services, Bitstamp is renowned for its trustworthiness and regulatory compliance. Holding more than 50 licenses and registrations globally and undergoing regular audits by a leading accounting firm, Bitstamp has earned a reputation for reliability and security.

    For Robinhood, the acquisition represents a strategic step towards diversifying its crypto business and tapping into Bitstamp’s established global exchange platform. Johann Kerbrat, general manager of Robinhood Crypto, emphasized the significance of integrating Bitstamp’s expertise into Robinhood’s ecosystem, noting that the move would facilitate the expansion of their footprint beyond the U.S. and enable the platform to cater to institutional clients effectively.

    Bitstamp’s leadership team, including CEO JB Graftieaux, will continue to lead the company following the acquisition, ensuring continuity and maintaining the platform’s commitment to compliance, security, and customer-centricity. This continuity aims to provide users with an enhanced trading experience while upholding the highest standards of regulatory compliance and security.

    With Robinhood already offering crypto trading services to clients in the European Union since December, the acquisition of Bitstamp is poised to further strengthen its presence in the region and intensify competition in the crypto exchange market. As Robinhood expands internationally, it poses a potential challenge to established players like Coinbase, which is also striving to broaden its market share outside of North America.

    Overall, the acquisition underscores Robinhood’s commitment to expanding its crypto business and leveraging strategic partnerships to enhance its offerings and reach in the global cryptocurrency market. With Bitstamp’s proven track record and regulatory compliance, the deal positions Robinhood for sustained growth and increased competitiveness in the evolving landscape of cryptocurrency trading.  If Crypto continues to rise over the next few months, Robinhood will be ready for its next move.

    Major Points:

    • Robinhood announces acquisition of Bitstamp for $200 million in all-cash deal.
    • Acquisition aimed at expanding Robinhood’s presence in global cryptocurrency market.
    • Bitstamp, a U.K.-based exchange founded in 2011, offers spot trading for over 85 cryptocurrencies and holds more than 50 licenses globally.
    • Bitstamp’s leadership team to remain in place following acquisition, ensuring continuity and commitment to compliance and security.
    • Deal expected to intensify competition in crypto exchange market, potentially impacting established players like Coinbase.

    Lap Fu Ip – Reprinted with permission of Whatfinger News

    Keep Reading

    Add A Comment

    Leave A Reply