Robinhood is making a big move to expand its crypto offerings by acquiring Bitstamp, a global crypto exchange.
Global Expansion
Robinhood’s purchase of Bitstamp will allow it to reach customers outside the US. Bitstamp has offices and licenses worldwide, providing Robinhood with a foothold in new markets.
Institutional Focus
Bitstamp’s institutional offerings, such as lending and infrastructure, will give Robinhood access to established relationships and expertise in the crypto space. This will help Robinhood cater to institutional investors.
Enhanced Crypto Offering
Robinhood hopes to accelerate its crypto expansion and improve its offerings through this acquisition. Johann Kerbrat, Robinhood’s Crypto General Manager, believes it’s a major step for the company.
Bitstamp’s Reputation
JB Graftieaux, CEO of Bitstamp, expressed his enthusiasm for the partnership. Bitstamp’s long-standing reputation for trust and transparency will enhance Robinhood’s trading experience.
Regulatory Approvals
The acquisition is expected to close in the first half of 2025, subject to regulatory approvals and price adjustments.
