tl;dr
Trading platform Robinhood has agreed to acquire U.K.-based crypto exchange Bitstamp for $200 million in cash. Bitstamp, founded in 2011, is one of the largest crypto exchanges in Europe. The acquisition aims to expand Robinhood's global crypto presence and attract institutional clientele. The deal ...
Trading platform Robinhood has agreed to acquire U.K.-based crypto exchange Bitstamp for $200 million in cash. Bitstamp, founded in 2011, is one of the largest crypto exchanges in Europe.
The acquisition aims to expand Robinhood's global crypto presence and attract institutional clientele. The deal is expected to close in the first half of 2025, with Barclays Capital and Galaxy Digital advising on the sale.
Robinhood's general manager of crypto, Johann Kerbrat, stated that the acquisition is a significant step in growing their crypto business and expanding outside of the U.S.
Bitstamp is known for its regulatory compliance and offers spot trading of over 85 cryptocurrencies, institutional lending, and staking. The acquisition is expected to enhance the trading experience for users while maintaining a commitment to compliance, security, and customer-centricity.
This move could intensify competition in the crypto exchange market, potentially impacting companies like Coinbase as they expand internationally.
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