- Robinhood finalizes $200M Bitstamp deal to develop international crypto providers.
- Bitstamp provides 55,000 customers and institutional power to Robinhood’s platform.
- Acquisition boosts Robinhood’s international compliance, safety, and buyer belief in crypto.
In a serious transfer, Robinhood has formally accomplished its $200 million all-cash Bitstamp acquisition, a widely known cryptocurrency alternate primarily based in Luxembourg. This improvement performs an enormous position in Robinhood’s drive to develop its crypto providers internationally. Launched in 2011, Bitstamp conducts enterprise in a number of international locations like Luxembourg, the UK, Slovenia, Singapore, and the USA. It has been working within the crypto sector for a few years and serves shoppers from over 50,000 retail and 5,000 institutional customers. This information was shared on Bitstamp’s official X account.
Robinhood Positive factors Institutional Edge with Bitstamp Acquisition
This settlement matches inside the authentic settlement made throughout June 2024. Bitstamp makes Robinhood’s neighborhood extra engaging with its international attain and trusted identify. Robinhood has greater than 50 lively registrations and licenses worldwide, making it in a position to shortly enter the markets within the EU, US, UK and Asia. Because of this, Robinhood Crypto turns into higher positioned to develop its providers past the USA.
In addition to retail prospects, the deal allows Robinhood to introduce its first institutional crypto service. Many establishments select Bitstamp because it presents dependable buying and selling, in depth order lists and stable choices for API linking. It has additional providers like crypto-as-a-service, institutional lending and staking. For that reason, Robinhood begins its work within the institutional cryptocurrency sector with a longtime enterprise.
The deal additionally provides Bitstamp’s expert crew to the checklist of individuals working for Robinhood. Because of this, international locations will collaborate extra, share data and invent new concepts collectively. Each corporations, in accordance with Robinhood, will keep the top-quality service, safety and reliability they’re well-known for.
Johann Kerbrat, Basic Supervisor of Robinhood Crypto, highlighted the strategic worth of the acquisition. He revealed that buying Bitstamp is an enormous transfer to strengthen our crypto operations. In periodic market fluctuations, Bitstamp’s international alternate as demonstrated reliability and power. Bitstamp has earned a robust fame amongst retail and large-scale crypto buyers by specializing in sturdy customer support and security in every single place.
Bitstamp-Robinhood Deal to Improve Safety, Compliance
On the identical word, JB Graftieaux, CEO of Bitstamp, stated he’s excited to work with Robinhood. He identified that merging Bitstamp’s system and abilities with Robinhood will empower customers to commerce extra successfully and with continued sturdy safety, regulatory adherence and a focus to buyer wants.
Robinhood made this deal only a few weeks after one other massive transaction was introduced. The corporate disclosed on Could 13 its intentions to buy WonderFi, a Canadian digital asset platform. That deal is being achieved with all-cash and is price about CAD 250 million which comes out to roughly USD 180 million. Robinhood’s resolution demonstrates its deal with coming into new steroids on the market areas and persevering with in North America.
Lastly, the acquisition of Bitstamp by Robinhood alerts a major transfer in its worldwide crypto actions. The result’s each an enchancment to what the corporate presents and entry to new, international prospects. Robinhood is about to play an enormous half in international cryptocurrency because it continues to develop its trusted platform selections.