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Benzinga- Robinhood Markets, Inc. has revealed plans to acquire the cryptocurrency exchange Bitstamp for approximately $200 million in cash.
Pending regulatory approvals and standard closing conditions, this strategic move is expected to close in the first half of 2025. Here’s what it means and where you can learn more from the experts.
Expanding global reach
Founded in 2011, Bitstamp operates in multiple regions, including Luxembourg, the United Kingdom, Slovenia, Singapore, and the United States, and holds over 50 active licenses and registrations worldwide. The acquisition will allow Robinhood to tap into Bitstamp’s large institutional and retail customer base across Europe, the UK, the US and Asia.
Johann KerbratChief Executive Officer of Robinhood Crypto, highlighted the importance of this acquisition: “The acquisition of Bitstamp is an important step in the growth of our cryptocurrency business. Bitstamp’s long-standing and highly trusted global exchange has shown resilience through cycles By seamlessly blending customer experience with security across geographies, the Bitstamp team has earned one of the strongest reputations among private and institutional cryptocurrency investors.”
Improved integration and offerings
CEO of Bitstamp, J.B. Graftieauxhighlighted the benefits of the merger: “Bringing Bitstamp’s platform and expertise to the Robinhood ecosystem will provide users with an improved trading experience with a continued commitment to compliance, security and customer centricity.”
This acquisition will integrate Bitstamp’s diverse product offerings into Robinhood’s portfolio, including staking, institutional lending, and a white-label solution known as Bitstamp-as-a-service. Additionally, Bitstamp’s leading spot exchange, with over 85 tradable assets, will be incorporated into Robinhood’s services.
Strategic consultants
Barclays Capital Inc. served as financial advisor to Robinhood, while Galaxy Digital Partners LLC advised Bitstamp. This acquisition aims to strengthen Robinhood’s presence in the global cryptocurrency market and attract institutional clients, in line with its goal to expand beyond the United States
Industry implications
This acquisition comes at a time when the digital asset landscape is rapidly evolving. Developments like these will be a key topic at the Benzinga event on the future of digital assets on November 19 in New York. Industry leaders will discuss the implications and future trends in the digital assets market, making this event essential for stakeholders.
Robinhood’s acquisition of Bitstamp marks an expansion of its crypto offerings, promising improved services for users. As the digital asset market continues to grow, the integration of Bitstamp’s platform into the Robinhood ecosystem highlights the importance of strategic acquisitions in this sector. The event will provide a platform to further explore such developments and their potential impact on the future of digital finance.
Image: Robinhood Shutterstock
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