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Home»ADOPTION NEWS»Robinhood is set to acquire Bitstamp in a deal potentially worth $200 million.
ADOPTION NEWS

Robinhood is set to acquire Bitstamp in a deal potentially worth $200 million.

By Crypto FlexsJune 6, 20242 Mins Read
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Robinhood is set to acquire Bitstamp in a deal potentially worth 0 million.
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Robinhood is acquiring Bitstamp in a potential $200 million deal designed to expand its cryptocurrency and stock trading platform outside the United States.

The cash transaction is expected to be completed in the first half of 2025, subject to customary closing conditions, including regulatory approvals, Robinhood said, according to a statement Thursday.

Barclays Capital Inc. served as the exclusive financial advisor to Robinhood, and Galaxy Digital Partners LLC served as the exclusive financial advisor to Bitstamp, according to the statement.

Founded in 2011, Bitstamp is the oldest cryptocurrency exchange with over 50 licenses and registrations worldwide. The deal will bring retail customers in the EU, UK, US and Asia under Robinhood’s umbrella and introduce the company to institutional cryptocurrency clients for the first time.

“The acquisition of Bitstamp is an important step in growing our cryptocurrency business,” said Johann Kerbrat, General Manager of Robinhood Crypto. “Bitstamp’s highly trusted and long-standing global exchange has demonstrated resilience through market cycles… (and) established one of the strongest reputations among retail and institutional cryptocurrency investors. This strategic combination puts us in a better position to expand our presence outside the U.S. and welcome institutional clients to Robinhood.”

In addition to its cryptocurrency exchange services, Bitstamp has more than 85 tradable assets and also offers staking and lending products, which Robinhood said will strengthen its cryptocurrency offerings.

“As the world’s longest-running cryptocurrency exchange, Bitstamp is known around the world as one of the most trusted and transparent cryptocurrency platforms,” said JB Graftieaux, CEO of Bitstamp. “Bringing Bitstamp’s platform and expertise to Robinhood’s ecosystem will enable us to deliver an enhanced trading experience for our users through our continued commitment to compliance, security and customer focus.”

Bitstamp’s existing team will join forces with Robinhood as part of the deal.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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