Robinhood will buy Bitstamp for $200 million
Stock trading platform Robinhood announced that it will acquire Luxembourg-based cryptocurrency exchange Bitstamp for approximately $200 million in cash.
In the statement made by Robinhood, it was reported that the company reached an agreement to purchase Bitstamp.
It was stated in the statement that this strategic acquisition will enable the company to be in a better position outside the USA, and it will also significantly accelerate Robinhood Crypto’s worldwide expansion.
In the statement, it was stated that the acquisition, which will be made for approximately 200 million dollars in cash, is expected to be completed in the first half of 2025.
Robinhood Crypto General Manager Johann Kerbrat stated in his evaluation on the subject that the acquisition of Bitstamp is an important step in growing the company’s crypto business and said, “Thanks to this strategic merger, we are in a better position to expand our footprint outside the USA and invite institutional customers to Robinhood.” .” he said.
Bitstamp Chief Executive Jean-Baptiste Graftieaux also pointed out that they are known as one of the most reliable and transparent crypto platforms worldwide, and said, “Bringing Bitstamp’s platform and expertise to the Robinhood ecosystem will offer users an enhanced trading experience with a continued commitment to compliance, security and customer focus.” made his assessment.