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 Retail investing platform Robinhood has agreed to a $200 million acquisition of European crypto exchange Bitstamp as it seeks to expand its operations to international markets and serve institutional customers. 
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The company<a href="https://x.com/RobinhoodApp/status/1798672303519342898"> disclosed</a> this move in a press release and social media post on June 6. It stated that this acquisition is a big step toward expanding its cryptocurrency services and growing outside the US. It noted that the move would enable access to the EU, UK, and Asian financial markets. 
Established in 2011, Bitstamp currently has 50 active licenses and registrations worldwide. As a result of the acquisition, Robinhood will now be able to compete with major market players like Binance and Coinbase. Its cryptocurrency offering will be improved by the crypto exchange’s core spot market, which has over 85 traded assets and offers services like lending and staking. 
Executives from both companies lauded the move, stating that it would help both companies better serve customers. JB Graftieaux, CEO of Bitstamp, has stated that incorporating Bitstamp’s platform and expertise into Robinhood’s ecosystem will provide users with an improved trading experience while maintaining a strong commitment to compliance, security, and customer-centric values. 
Graftieaux also noted that Bitstamp is the world’s oldest cryptocurrency exchange and is widely recognized as one of the most transparent and trustworthy crypto platforms globally. 
According to Johann Kerbrat, Robinhood’s Crypto General Manager, the Bitstamp team has built a strong reputation among retail and institutional cryptocurrency investors by skillfully fusing user experience with safety across borders. 
The acquisition deal is expected to be finalized in the first half of 2025. 
Notably, this move comes amid Robinhood’s ongoing regulatory issues in the U.S. The U.S. Securities and Exchange Commission (SEC) recently issued Robinhood a Wells Notice over potential violations of securities laws. However, a Wells Notice does not necessarily lead to legal action, and Robinhood has stated its intention to continue cooperating with the SEC to avoid any disruptions. 
Dan Gallagher, Robinhood’s Chief Legal, Compliance, and Corporate Affairs Officer,<a style="color: #0000ff;" href="https://defi-planet.com/2024/05/robinhood-receives-wells-notice-from-u-s-sec-stock-declines-2-5/"> mentioned in a blog post on May 6</a> that the SEC issued the Notice despite Robinhood’s efforts to register with U.S. securities authorities. 
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The post <a href="https://defi-planet.com/2024/06/robinhood-acquires-bitstamp-for-200-million-to-expand-global-crypto-services/">Robinhood Acquires Bitstamp for $200 Million to Expand Global Crypto Services</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

Robinhood Acquires Bitstamp for $200 Million to Expand Global Crypto Services

DeFi Planet

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