US markets Neobroker RobinHood (Nasdaq: Hood) have announced that it has closed the acquisition of Bitstamp a global encryption exchange. Bitstamp, founded in 2011 with offices in Luxembourg, the United Kingdom, Slovenia, Singapore and the US, has agreed to be acquired by Robinhood in July 2024 for $ 200 million.
The company said this acquisition greatly accelerates the expansion of RobinHood Crypto worldwide. Bitstamp has over 50 active licenses and registrations worldwide and brings to customers across the EU, the United Kingdom, the US and Asia in Robinhood.
The acquisition also introduces RobinHood’s first institutional cryptographic business. Bitstamp has entrusted for 14 years by institutions for reliable trade, deep order books and API links that lead to industry and offers such as Crypto-A-A-Service, institutional lending and stalwart. RobinHood enters the space with an active and highly reliable business with established relationships.
Bitstamp’s Core Spot Exchange has a strong product supply and greatly enhances Robinhood encryption product for customers around the world.
“The acquisition of Bitstamp is an important step in developing our encryption business. The extremely reliable and long -term global exchange of Bitstamp has shown durability through market cycles.” Through this strategic combination, we are better positioned to expand our footprint outside the US and to the US.
With this acquisition, the Bitstamp team unites his strength with RobinHood, promoting cooperation, innovation and exchange of knowledge on all continents. RobinHood and Bitstamp customers can expect the same level of service, security and reliability they have come to wait for both companies.
“As the largest exchange of encryption in the world, Bitstamp is known as one of the most trusting and transparent encryption platforms in the world,” said JB Graftieaux, CEO of Bitstamp. “Attracting Bitstamp’s platform and expertise to RobinHood ecosystem will give users an improved commercial experience with a continuing commitment to compliance, security and the focus of customers.”