The popular exchange platform Robinhood has reached an agreement to acquire the cryptocurrency exchange Bitstamp. This strategic acquisition aims to consolidate Robinhood’s position in the global cryptocurrency market by attracting institutional clients and expanding its product range.
Moreover, the acquisition is expected to be finalized in the first half of 2025.
A very beneficial acquisition
Indeed, the cash transaction is valued at $200 million. It is expected to be finalized in the first half of 2025.
Furthermore, Barclays Capital Inc. has acted as the exclusive financial advisor to Robinhood throughout this transaction, while Galaxy Digital Partners LLC has served as the exclusive financial advisor to Bitstamp.
The acquisition of Bitstamp is a major step in the growth of Robinhood’s crypto business.
Additionally, Bitstamp, which enjoys great trust and longevity, has demonstrated resilience through market cycles.
The Bitstamp team has built a solid reputation worldwide among both individual and institutional crypto investors.
A strong desire to develop globally
Following the acquisition, the teams of Bitstamp and Robinhood will integrate, combining their expertise and resources.
This operation should facilitate the achievement of Robinhood’s goal to expand its global reach beyond the United States and attract institutional clients to its platform.
Last month, the United States Securities and Exchange Commission had sent Robinhood a notice alleging potential violations of securities laws.
Despite this, Robinhood’s crypto revenues have soared to $618 million, representing a 40% year-over-year increase.
The platform had also launched cryptocurrency exchange services for European Union clients in December.
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