News
Luxembourg-based cryptocurrency exchange Bitstamp to be acquired by Robinhood for €183.5 million
Robin Hooda US-based financial services platform, has agreed to acquire the Luxembourg one Bitstampa global cryptocurrency exchange.
Founded in 2011, Bitstamp operates in multiple countries, including Luxembourg, the United Kingdom, Slovenia, Singapore, and the United States.
Robinhood’s acquisition of Bitstamp, which boasts over 50 global licenses, will spur Robinhood Crypto’s global expansion, attracting customers from the EU, UK, US and Asia.
The US-based company expects to close the deal for approximately $200 million (approximately €183.58 million) in cash, pending customary purchase price adjustments. The acquisition is expected to close in the first half of 2025.
Purpose of the acquisition
Robinhood’s acquisition of Bitstamp marks its entry into the institutional business. With Bitstamp’s institutional offerings, such as Bitstamp-as-a-service, institutional lending, and staking, Robinhood enters the space with established relationships, infrastructure, and “industry-leading” products.
Bitstamp’s leading spot exchange, which boasts over 85 tradable assets, along with services such as staking and lending, will enrich Robinhood’s Crypto offerings.
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Johann Kerbrat, CEO of Robinhood Crypto, says: “The acquisition of Bitstamp is an important step in the growth of our cryptocurrency business. Bitstamp’s long-standing and highly trusted global exchange has demonstrated resilience through market cycles.”
“By seamlessly blending customer experience with security across all geographies, the Bitstamp team has built one of the strongest reputations among retail and institutional crypto investors.”
“Through this strategic combination, we are better positioned to expand our presence outside the United States and welcome institutional clients to Robinhood.”
JB Graftieaux, CEO of Bitstamp, adds: “As the world’s longest-running cryptocurrency exchange, Bitstamp is known as one of the most trusted and transparent crypto platforms in the world.”
“Bringing Bitstamp’s platform and expertise to the Robinhood ecosystem will provide users with an enhanced trading experience with an ongoing commitment to compliance, security and customer centricity.”
The Bitstamp team will join Robinhood, encouraging collaboration and innovation. Customers of both platforms can expect the same service, security and transparency throughout the integration process.