Robinhood buys Bitstamp to up ante in crypto trading

Robinhood Markets Inc has struck a $200 million deal to acquire cryptocurrency exchange Bitstamp, to bolster the trading app’s crypto exposure.

It helps Robinhood accelerate its growth ambitions as it rolls out internationally, beyond the borders of the United States.

Robinhood recently entered the UK, and a more limited version of the app is available in Europe, whereas Bitstamp holds active licenses for markets including the European Union, United Kingdom, United States, and Asia.

“The acquisition of Bitstamp is a major step in growing our crypto business,” Robinhood Crypto general manager Johann Kerbrat.

“Through this strategic combination, we are better positioned to expand our footprint outside of the US and welcome institutional customers to Robinhood.”

Bitstamp chief executive JB Graftieaux, meanwhile, added: “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.”

The acquisition deal is expected to be completed in the first half of 2025.

In New York, Robinhood stock was up $1.39 or 6.5% changing hands at $22.91.