Robinhood, the US-based brokerage firm, has finalized its acquisition of Bitstamp, a Luxembourg-headquartered cryptocurrency exchange, for $200 million in cash. The announcement, made on June 2nd, signifies a significant expansion of Robinhood’s presence in the crypto space.
This acquisition provides Robinhood with over 50 licenses held by Bitstamp, bolstering its regulatory compliance and global reach. The deal, initially discussed last year by Robinhood Crypto’s General Manager Johann Kerbrat, represents a strategic move to enhance Robinhood’s crypto offerings and tap into Bitstamp’s established user base and infrastructure.
Bitstamp, founded in 2011, brings a wealth of experience and a strong reputation to the partnership, further solidifying Robinhood’s position in the increasingly competitive cryptocurrency market.
