Robinhood has agreed a deal to acquire Bitstamp, the global cryptocurrency exchange. Bitstamp was founded in 2011 and has offices in Luxembourg, the UK, Slovenia, Singapore, and the US. Robinhood says the deal will significantly accelerate its crypto expansion worldwide. Bitstamp holds over 50 active licenses and registrations globally and will bring in customers across the EU, UK, US and Asia to Robinhood.

Bitstamp deal introduces Robinhood’s first institutional business

Bitstamp says it is trusted by its institutional clients for reliable trade execution, deep order books and industry-leading API connectivity. Other institutional offerings include white label solution Bitstamp-as-a-service, institutional lending, and staking. Bitstamp’s core spot exchange has over 85 tradable assets.

“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,” 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.”

JB Graftieaux, CEO of Bitstamp, added: “As the world’s longest running cryptocurrency exchange, Bitstamp is known as one of the most-trusted and transparent crypto platforms worldwide. Bringing Bitstamp’s platform and expertise into Robinhood’s ecosystem will give users an enhanced trading experience with a continuing commitment to compliance, security, and customer-centricity.”

Robinhood expects the final deal consideration to be approximately $200m in cash, subject to customary purchase price adjustments. The acquisition is subject to customary closing conditions and regulatory approvals. It is expected to close in the first half of 2025.

In April 2022, Robinhood agreed a deal to acquire UK-based electronic money institution and crypto asset firm Ziglu. In August that year it sought to renegotiate the price from $170m to $72.5m. In 2023, the deal was scrapped.

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