Robinhood, a Menlo Park, CA-based financial services company, acquires Bitstamp Ltd., a global cryptocurrency exchange.
Robinhood expects the final deal consideration to be approximately $200m in cash, subject to customary purchase price adjustments. The acquisition, which is subject to customary closing conditions, will bring Bitstamp’s globally-scaled crypto exchange to Robinhood, with retail and institutional customers across the EU, UK, US and Asia. It is expected to close in the first half of 2025.
Founded in 2011 and led by CEO JB Graftieaux, Bitstamp is a global exchange which holds over 50 active licenses and registrations globally. It will bring in customers across the EU, UK, US and Asia to Robinhood. The company has offices in Luxembourg, the UK, Slovenia, Singapore, and the US.
Bitstamp’s core spot exchange, with over 85 tradable assets, and products like staking and lending, will enhance Robinhood’s Crypto offering. With Bitstamp’s other institutional offerings like white label solution Bitstamp-as-a-service, institutional lending, and staking, Robinhood will enter the space with active and established relationships, infrastructure and industry-leading products.
FinSMEs
06/06/2024