Robinhood Plans to Acquire Crypto Exchange Bitstamp

Robinhood is expanding its involvement in the world of cryptocurrency by acquiring the Bitstamp cryptocurrency exchange.

This deal, valued at $200 million, will allow Robinhood to offer services to institutional clients in the United States.

The acquisition is expected to be completed in the first half of 2025, pending regulatory approval. In a report on June 6, Johann Kerbrat, the general manager of Robinhood Crypto, stated that the decision to purchase Bitstamp was driven by the increasing demand for cryptocurrency products from customers.

He also explained that the company believes cryptocurrency will have a significant impact on the financial system, which was a key factor in the acquisition.

According to Vlad Tenev, the co-founder and CEO of Robinhood, the acquisition of Bitstamp aligns with the company’s belief that cryptocurrency will have a transformative effect on the financial industry.