Stock trading app Robinhood announced its acquisition of Luxembourg-based cryptocurrency exchange Bitstamp in a deal designed to expand its global reach. Bitstamp has offices in the UK, Slovenia, Singapore, and the US and customers in the EU, UK, US and Asia. The transaction is expected to be worth around $200 million and will close in the first half of 2025, subject to regulatory approvals.
Bitstamp was founded in 2011 and acquired by Belgian investment firm NXMH in 2018. Earlier this year, Ripple acquired a minority stake.
“By seamlessly coupling customer experience with safety across geographies, the Bitstamp team has established one of the strongest reputations across retail and institutional crypto investors,” said Johann Kerbrat, General Manager of Robinhood Crypto. “Through this strategic combination, we are better positioned to expand our footprint outside of the US and welcome institutional customers to Robinhood.”
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