Trading app Robinhood has reached a $200 million cash agreement to acquire the crypto exchange Bitstamp, aiming to broaden its presence beyond the US and enhance its focus on digital assets.
Established in 2011, the UK-based Bitstamp holds over 50 active licenses and registrations worldwide, allowing Robinhood to attract customers from the EU, UK, US, and Asia while competing with major exchanges like Coinbase. Bitstamp offers a core spot exchange with more than 85 tradable assets and additional products such as staking and lending, positioning Robinhood to expand into the institutional market beyond retail customers.
Johann Kerbrat, GM of Robinhood Crypto, stated: “Through this strategic combination, we are better positioned to expand our footprint outside of the US and welcome institutional customers to Robinhood.” The Bitstamp team is set to join Robinhood when the deal is finalized in the first half of next year, pending closing conditions.