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.
We have some exciting news: we’re joining forces with Robinhood Crypto! Together, we will deliver an even better experience for all of our customers. Between the two of us, you’re in good hands 🤝
— Bitstamp (@Bitstamp) June 6, 2024
Learn more: https://t.co/57bPbSZbpU https://t.co/jIgzPLqxPT
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.
BREAKING: ROBINHOOD BUYS #BITCOIN AND CRYPTO EXCHANGE BITSTAMP FOR $200 MILLION. pic.twitter.com/Q9LfBDw3Di
— Bitcoin Magazine (@BitcoinMagazine) June 6, 2024
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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