Multi-asset trading platform Robinhood has acquired global crypto exchange Bitstamp in a $200 million deal.
In a blog post on 2 June, Robinhood announced the acquisition which has already been finalized, saying it affords the platform the opportunity to expand outside the U.S.
Building crypto reputation
Bitstamp is a reputable crypto exchange with offices in Luxembourg, the UK, Slovenia, Singapore, and the US.
The exchange also holds over 50 active licenses and registrations globally, which will greatly improve Robinhood’s reputation as a trusted crypto platform.
With the acquisition, Bitstamp will also bring customers across the EU, UK, US and Asia to Robinhood, and mark the beginning of its first institutional crypto business.
In its over 14 years of operation, Bitstamp has been trusted by institutions for its reliable trade execution, deep order books and industry-leading API connectivity and offerings, institutional lending, and staking.
Robinhood is entering the space with an active and highly trusted business with established relationships.
Commenting, Johann Kerbrat, General Manager of Robinhood Crypto said:
“The acquisition of Bitstamp is a major step in growing our crypto business. Bitstamp’s highly trusted and long standing global exchange has shown resilience through market cycles. 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. Through this strategic combination, we are better positioned to expand our footprint outside of the US and welcome institutional customers to Robinhood.”
Joining forces
The acquisition brings collaboration between Bitstamp and Robinhood teams, as well as innovation, and knowledge sharing across continents.
It will also ensure that the same quality of service is maintained for both Bitstamp and Robinhood customers going forward, so that the standard is not diminished.
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