The $200 million deal is aimed at bolstering institutional trading capabilities in the United States.
This acquisition move comes amidst the recent receipt from Robinhood of a Wells notice from the SEC in May.
Robinhood’s Acquisition of Bitstamp: Boosting Institutional Trading
Despite this, Robinhood remains committed to expanding its crypto offerings to meet increasing customer demand. Johann Kerbrat, Robinhood Crypto’s GM, cited customer demand for more crypto products as the reason for acquiring Bitstamp. Kerbrat stressed Robinhood’s crypto focus for its transformative potential in finance.
Source: X
Robinhood’s co-founder and CEO, Vlad Tenev, echoed this sentiment, stating that crypto will “fundamentally reorganize the financial system”. Tenev highlighted Bitstamp’s global presence, robust spot exchange, and industry-leading products such as crypto-as-a-service, institutional lending, and staking as key drivers behind the acquisition.
The deal, subject to regulatory approval, is anticipated to be finalized in the first half of 2025. This strategic move underscores Robinhood’s commitment to diversifying its product offerings and positioning itself as a prominent player in the evolving cryptocurrency landscape.
Source: X
As crypto continues to gain traction as a mainstream asset class, Robinhood’s acquisition of Bitstamp signals its readiness to capitalize on this growing market opportunity and cater to the evolving needs of institutional investors and retail traders alike.
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