Popular Trading App Robinhood Acquired This Cryptocurrency Exchange! Here Are The Details

Popular trading app Robinhood has officially acquired European-based cryptocurrency exchange Bitstamp in a $200 million deal. Robinhood Acquires Crypto Exchange Bitstamp for $200 Million This strategic move, announced in June 2024, is seen as a key part of Robinhood’s plan to expand into non-US markets. The company targeted that the deal would close in the first half of 2025. The acquisition was subject to customary closing conditions, including regulatory approvals. Robinhood’s Big Move In Crypto Investing Founded in 2011 as an alternative to the collapse of Mt. Gox, Bitstamp is the world’s oldest active cryptocurrency exchange. Today, the platform offers over 85 tradable digital assets and over 50 global licenses and registrations. Thanks to this acquisition, Robinhood will be able to target not only individual investors in Europe and the US, but also institutional crypto clients for the first time. “Bitstamp is now part of Robinhood. This adds a global crypto exchange and our first institutional crypto business to our portfolio. The real work begins now,” Robinhood co-founder and CEO Vlad Tenev said on social media platform X. Robinhood said in a statement that Bitstamp is a trusted player in the industry thanks to its 14-year track record, strong liquidity, robust API infrastructure, and features such as institutional lending and staking services. It was stated that Bitstamp’s spot exchange structure will make a significant contribution to Robinhood’s global crypto strategy. “Acquiring Bitstamp is a big step in growing our crypto business,” said Johann Kerbrat, General Manager of Crypto at Robinhood. “Combining our large individual user base with Bitstamp’s global institutional infrastructure will create a seamless, deep liquidity 24/7 trading experience.” After the acquisition, the Bitstamp team will join forces with Robinhood to focus on collaboration and knowledge sharing. The brand will continue to operate under the name “Bitstamp by Robinhood” for now. *This is not investment advice. Continue Reading: Popular Trading App Robinhood Acquired This Cryptocurrency Exchange! Here Are The Details

Source: BitcoinSistemi