Giant

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Zero-fee trading platform Robinhood has&nbsp;<a href="https://x.com/RobinhoodApp/status/1798672303519342898">announced</a> its decision to acquire major cryptocurrency exchange Bitstamp for $200 million.
According to a Thursday announcement, the acquisition deal will help its expansion efforts outside the US. Robinhood will be able to leverage Bitstamp's collection of active licenses and registrations around the world.&nbsp;
The deal, which is still subject to regulatory approvals, is expected to close in the first part of the next year.&nbsp;
Bitstamp, which started operating back in 2011, is one of the oldest and most reputed cryptocurrency exchanges. The Luxembourg-based exchange is known for its&nbsp;<a href="https://u.today/elon-musk-touted-dogecoin-rejected-by-bitstamp-boss">strong regulatory compliance</a> and stringent listing rules.&nbsp;
After gaining popularity with retail traders, Robinhood now also intends to cater to institutional clients after the recent Bitstamp deal. The newly acquired European exchange offers a slew of institution-grade services that will help Robinhood speed up its efforts.&nbsp;
Johann Kerbrat, general manager of Robinhood Crypto, has noted that Bitstamp has "one of the strongest reputations" across retail investors and sophisticated institutions.

Breaking: Robinhood to Buy Crypto Giant Bitstamp

U_Today

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