Key Takeaways:
- Robinhood Expansion: Robinhood plans to launch crypto trading in Singapore via Bitstamp by late 2025, leveraging Bitstamp’s regulatory approvals.
- Memecoin Demand: Despite recent scandals, retail interest in memecoins is surging, influencing major exchanges like Binance.US and Coinbase.
- Crypto Revenue Growth: Robinhood’s crypto segment contributed $358M in Q4 2024, over half of its total transaction-based earnings.
Robinhood is set to expand its cryptocurrency trading services into Singapore through its subsidiary, Bitstamp, aiming for a late 2025 launch.
According to a Bloomberg report, Bitstamp’s regulatory approvals in Singapore were a key factor in Robinhood’s decision.
Robinhood Markets plans to launch crypto offerings in Singapore by the end of 2025 through an entity of European cryptocurrency exchange Bitstamp https://t.co/PscpZx67Y8
— Bloomberg Crypto (@crypto) February 18, 2025
Johann Kerbrat, Robinhood Crypto’s vice president, highlighted the firm’s licenses and institutional business as attractive aspects of the acquisition.
Robinhood announced its $200 million purchase of Bitstamp in June 2024, with the deal expected to be finalized this year, pending regulatory clearance.
In addition to expansion plans, Robinhood has observed growing retail demand for memecoins, despite recent market volatility.
The collapse of the “Libragate” memecoin on February 14, which lost over $4 billion in value due to insider trading concerns, hasn’t dampened investor enthusiasm.
The launch of the Official Trump (TRUMP) memecoin on January 18 further fueled interest, especially after Donald Trump’s election victory in November 2024.
Major exchanges like Binance.US and Coinbase have also expanded their memecoin offerings.
Robinhood’s crypto division continues to be a major revenue driver, generating $358 million in Q4 2024, accounting for more than half of its $672 million in transaction-based earnings.
The company remains focused on meeting user demand while ensuring regulatory compliance.
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