Robinhood buys Bitstamp for $200 million

As part of its strategy to strengthen its presence in the cryptocurrency sector, the American company Robinhood announced the purchase of Bitstamp, one of the leading cryptocurrency exchanges in Europe, for $200 million. This is an important acquisition given the weight of these two players in the digital currency sector.

Robinhood acquires Bitstamp

American trading platform Robinhood announced on Tuesday that it had acquired cryptocurrency exchange Bitstamp for $200 million, aiming to expand its influence in the digital currency sector.

This strategic acquisition should be finalized by the first half of 2025 and will enable Robinhood Platform By offering a wide range of services to its users while targeting new customers.

The acquisition of Bitstamp represents a critical step in the development of Robinhood's cryptocurrency business. Bitstamp, a popular exchange, has been able to withstand market fluctuations. This strategic alliance will allow Robinhood to increase its presence outside the United States.

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In December, Robinhood actually began offering cryptocurrency trading to its customers in the European Union. Meanwhile, Bitstamp was founded in the UK in 2011. It quickly established itself as a major trading platform. Digital currencies On the European market.

Additionally, the platform currently offers spot trading of over 85 cryptocurrencies, as well as other innovative crypto-related financial products such as lending and betting. Bitstamp is also regularly audited by major international auditing firms.

Bitstamp is headquartered in Luxembourg and has offices in the United Kingdom, Slovenia, Singapore and the United States. The company serves an international clientele with over 50 active licenses and registrations worldwide, spanning the EU, UK, US and Asia.

For JP Grafto, CEO of Bitstamp, this acquisition is a strategic step for the exchange.

“Integrating Bitstamp’s platform and expertise into the Robinhood ecosystem will provide users with a better trading experience, with a continued commitment toCompliance Security and customer journey.

The CEO and the rest of Bitstamp's management will remain in their positions after the exchange is acquired by Robinhood. With this acquisition, Robinhood will make its first foray into corporate finance.