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M&A
Robinhood acquires Bitstamp for USD 200 million to expand globally
Retail Trading Infrastructure
Jun 6, 2024
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Retail Trading Infrastructure

Retail Trading Infrastructure

Jun 6, 2024

Robinhood acquires Bitstamp for USD 200 million to expand globally

M&A

  • Robinhood, a trading platform, has acquired Bitstamp, a cryptocurrency exchange, for USD 200 million to expand its crypto services globally.

  • Bitstamp is a cryptocurrency exchange that enables users to trade over 80 cryptocurrencies. The exchange features spot trading with order types like market, limit, stop, and instant orders. Moreover, it also offers staking services, which enable users to earn rewards by validating blockchain networks like Ethereum and Algorand, as well as a crypto-denominated lending service. Bitstamp holds over 50 active licenses and registrations globally.

  • Notably, Bitstamp offers institutional clients access to a 24/7 OTC trading desk, advanced security features, API connectivity, and dedicated account managers. It also recently launched the "Bitstamp-as-a-Service" platform, which enabled banks and FinTech firms to integrate crypto trading services.

  • The acquisition will enable Robinhood to enhance its crypto offering (Robinhood Crypto) and tap into Bitstamp’s network of institutional clients across the EU, UK, US, and Asia. 

  • Analyst QuickTake: The last few months have been relative turmoil for the crypto exchange space, with Robinhood Crypto and Uniswap receiving Well’s notices from the SEC stating its intent to pursue enforcement action. The potential charges pertain to them allegedly offering unregistered securities. Despite this, this acquisition marks Robhinhood’s second development in the DeFi industry since it launched several new DeFi features for its European customers last month.

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