Massive Crypto Bet: Robinhood to Acquire Bitstamp for $200M

According to an official release, Robinhood has entered an agreement to acquire Bitstamp for $200 million in cash. The deal is expected to be completed in the first half of 2025, expanding Robinhood’s crypto business and giving the company access to customers across the United States, Asia, the United Kingdom, and the European Union.

Robinhood to Acquire Bitstamp

Bitstamp was founded in 2011 and is currently the world’s longest-running crypto exchange. The trading platform has over 50 active licenses globally and offices in the United Kingdom, Singapore, the U.S., Slovenia, and Luxembourg. 

Robinhood said the acquisition marks its first institutional business, and the exchange’s existing products, such as Bitstamp-as-a-service, institutional lending, and staking, would usher it into a space with active and established relationships and infrastructure, enhancing its crypto offerings.

Johann Kerbrat, General Manager of Robinhood Crypto, said: “The acquisition of Bitstamp is a major step in growing our crypto business. Bitstamp’s highly trusted and long-standing global exchange has shown resilience through market cycles. By seamlessly coupling customer experience with safety across geographies, the Bitstamp team has established one of the strongest reputations across retail and institutional crypto investors.”

Pending Regulatory Approvals

The leading financial services company said Bitstamp’s customers would receive the same level of service and reliability as both firms would join forces and their teams would work together. While preparations are being made to finalize the deal, Robinhood said the agreement is still subject to customary purchase price adjustments, closing conditions, and regulatory approvals.

“As the world’s longest-running cryptocurrency exchange, Bitstamp is known as one of the most trusted and transparent crypto platforms worldwide. Bringing Bitstamp’s platform and expertise into Robinhood’s ecosystem will give users an enhanced trading experience with a continuing commitment to compliance, security, and customer-centricity,” commented Bitstamp CEO JB Graftieaux.

Robinhood’s latest move shows that the company is unfazed by regulatory uncertainty in the U.S. The Securities and Exchange Commission recently hit its crypto business with a Wells Notice, revealing the intent of an enforcement action. 

Regardless of the SEC’s antics, Robinhood is persistent in its foray into the crypto sector. Last month, the firm launched Solana staking for its EU users.