Robinhood Acquires Bitstamp for $200M to Expand Globally

Last Updated on June 7, 2024

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Robinhood Signage Logo on Top of Glass Building. Source: Askar - stock.adobe.com

Key Takeaways:

  • Robinhood plans to acquire Bitstamp, a major European crypto exchange, for $200 million in cash, targeting completion in the first half of 2025.
  • The acquisition aims to boost Robinhood’s global crypto presence and attract institutional clients, leveraging Bitstamp’s regulatory compliance and diverse crypto offerings.
  • The deal is expected to heighten competition in the crypto market, challenging leading exchanges like Coinbase.

Robinhood plans to acquire Bitstamp, a U.K.-based crypto exchange, for $200 million in cash, aiming to finalize the deal in the first half of 2025.

Bitstamp, one of Europe’s largest and most regulated exchanges, offers over 85 cryptocurrencies for trading and services like institutional lending and staking.

This acquisition will help Robinhood expand its global crypto presence and attract institutional clients. Johann Kerbrat, Robinhood Crypto’s general manager, emphasized that Bitstamp’s trusted platform will facilitate Robinhood’s international expansion and institutional customer base.

Advisory support for the deal was provided by Barclays Capital and Galaxy Digital.

Bitstamp’s CEO, JB Graftieaux, stated that the partnership will improve user trading experiences while maintaining compliance and security. Graftieaux and his team will stay on post-acquisition.

This acquisition is expected to increase competition in the crypto exchange market, with Robinhood’s expansion challenging major players like Coinbase.

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