This acquisition brings Bitstamp’s globally-scaled crypto exchange to Robinhood, with retail and institutional customers across the EU, UK, US and Asia.
This strategic combination better positions Robinhood to expand outside of the US and brings a trusted and reputable institutional business to Robinhood.
Robinhood Markets, Inc. (“Robinhood”) has closed its acquisition of Bitstamp Ltd. (“Bitstamp”), a global cryptocurrency exchange. Bitstamp was founded in 2011 and has offices in Luxembourg, the UK, Slovenia, Singapore, and the US.
This acquisition significantly accelerates Robinhood Crypto’s expansion worldwide. Bitstamp holds over 50 active licenses and registrations globally and brings customers across the EU, UK, US and Asia to Robinhood.
The acquisition also introduces Robinhood’s first institutional crypto business. Bitstamp has been trusted for 14 years by institutions for its reliable trade execution, deep order books and industry-leading API connectivity and offerings like crypto-as-a-service, institutional lending, and staking. Robinhood is entering the space with an active and highly trusted business with established relationships.
Bitstamp’s core spot exchange has a robust product offering and significantly enhances Robinhood’s Crypto product for customers across the globe.
“The acquisition of Bitstamp is a major step in growing our crypto business. Bitstamp’s highly trusted and long standing global exchange has shown resilience through market cycles. By seamlessly coupling customer experience with safety across geographies, the Bitstamp team has established one of the strongest reputations across retail and institutional crypto investors,” said Johann Kerbrat, General Manager of Robinhood Crypto. “Through this strategic combination, we are better positioned to expand our footprint outside of the US and welcome institutional customers to Robinhood.”
With this acquisition, Bitstamp’s team joins forces with Robinhood, fostering collaboration, innovation, and knowledge sharing across continents. Robinhood and Bitstamp customers can expect the same level of service, security and reliability they’ve come to expect from both companies.
“As the world’s longest running cryptocurrency exchange, Bitstamp is known as one of the most-trusted and transparent crypto platforms worldwide,” said JB Graftieaux, CEO of Bitstamp. “Bringing Bitstamp’s platform and expertise into Robinhood’s ecosystem will give users an enhanced trading experience with a continuing commitment to compliance, security, and customer-centricity.”
Trading or transacting in virtual currencies involves significant risk and may not be suitable for all individuals or institutions. Virtual currencies are not legal tender, are not backed by any government, and are subject to substantial price volatility.
Robinhood Crypto, LLC (NMLS ID: 1702840) is Licensed to engage in Virtual Currency
Business Activity by the New York State Department of Financial Services.
The post Robinhood Completes Acquisition of Bitstamp appeared first on Robinhood Newsroom.
