It is the first major acquisition in the crypto sector in 2024. The California-based fintech Robinhood has agreed to acquire the global crypto exchange Bitstamp. This acquisition is set to expand Robinhood’s reach, bringing Bitstamp’s services to retail and institutional customers. Founded in 2011, Bitstamp operates in Luxembourg, the UK, Slovenia, Singapore, and the US. The acquisition, anticipated to close in the first half of 2025, is subject to customary closing conditions and regulatory approvals.
Global Expansion
Robinhood‘s acquisition of Bitstamp aims to accelerate the expansion of its cryptocurrency services beyond the US. Bitstamp holds over 50 active licenses and registrations worldwide, facilitating Robinhood’s entry into new markets across Europe and Asia.
Institutional Business Integration
This acquisition marks Robinhood’s entry into the institutional business sector. Bitstampoffers established products such as Bitstamp-as-a-service, institutional lending, and staking. Its core spot exchange, with over 85 tradable assets, and industry-leading API connectivity will enhance Robinhood’s offerings.
Commitment to Compliance
Bitstamp CEO JB Graftieaux commented, “As the world’s longest-running cryptocurrency exchange, Bitstamp is known for being a trusted and transparent crypto platform. Integrating Bitstamp’s platform and expertise into Robinhood’s ecosystem will enhance the trading experience while maintaining a commitment to compliance, security, and customer-centricity.”
The integration of Bitstamp’s team with Robinhood aims to foster collaboration and knowledge sharing. Customers of both platforms can expect the same level of service, security, and reliability.
Financial and Advisory Details
Robinhood estimates the deal consideration to be approximately $200 million in cash, subject to customary purchase price adjustments. Barclays Capital served as exclusive financial advisor to Robinhood, and Galaxy Digital Partners advised Bitstamp.