Robinhood plans to acquire the global crypto exchange Bitstamp for $200 million, aiming to close the deal in the first half of 2025. This move is designed to extend Robinhood’s market reach beyond the U.S. and attract institutional investors.
Johann Kerbrat, head of Robinhood’s crypto division, highlighted the acquisition’s role in expanding their crypto business. Bitstamp’s resilience in market cycles positions Robinhood to better attract institutional clients.
The transaction, valued at $200 million, involves Barclays Capital and Galaxy Digital as advisors. Kerbrat noted the acquisition is driven by increased client interest in crypto products. Following the announcement, Robinhood’s stock price surged 4%, reflecting market approval.
This acquisition marks a strategic step for Robinhood, emphasizing its long-term commitment to growing its presence in the global cryptocurrency market.
