Top trading platform, Robinhood has disclosed its intention to purchase Bitstamp. In a Thursday blog post, Robinhood said the acquisition will enhance Bitstamp’s status as one of the globally recognized crypto exchanges in the world with millions of customers spread across the EU, UK, US, and Asia.
The acquisition deal is expected to be fully completed in the first half of 2025 and is subject to closing conditions and regulatory approvals. Established in 2011, Bitstamp has build a solid reputation with its unique crypto trading products. The exchange has several offices in countries like Luxembourg, the United Kingdom, Slovenia, and Singapore amongst others.
Robinhood believes its acquisition of Bitstamp will be a significant step forward in its lofty ambition to achieve crypto expansion worldwide. Since Bitstamp holds over 50 regulatory licenses across the globe, Robinhood is optimistic that the deal will usher in millions of customers to its ecosystem.
Sharing insights into the deal, Johann Kerbrat, General Manager of Robinhood Crypto disclosed that the acquisition can help widen the crypto arm of the firm. The exec describes Bitstamp as a trusted and highly reputable brand that has shown resilience across numerous market cycles. Kerbrat added that the exchange remains one of the popular choices for both retail and institutional traders due to its high-end security. With the agreement, Kerbrat said Robinhood is positioned to expand its footprint outside the shores of the United States.
Robinhood expects Bitstamp acquisition deal to close at $200 million in cash
Meanwhile, Robinhood expects the acquisition deal consideration to be $200 million though subject to customary purchase price adjustment. In a press release, Robinhood emphasized its intention to work with Bitstamp’s team to drive collaboration and innovation. More so, both firms assure their users of same level of reliability and efficiency in their service deliveries.
JB Graftieaux, CEO of Bitstamp boasted that the exchange remains one of the world’s longest-serving crypto exchanges in the world. According to him, Robinhood’s decision to acquire Bitstamp further demonstrates the exchange’s excellent performance since storming the market. He believes integrating the platform and its expertise into Robinhood will provide its customers with ultimate experiences.
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