Robinhood Markets, Inc. has entered into an agreement to acquire Bitstamp Ltd, a global cryptocurrency exchange.
Robinhood expects the final price of the deal to be approximately $200 million in cash, subject to customary purchase price adjustments. The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close in the first half of 2025.
Barclays Capital Inc. served as Robinhood’s exclusive financial advisor. Galaxy Digital Partners LLC served as the exclusive financial advisor to Bitstamp.
Bitstamp was founded in 2011 and has offices in Luxembourg, the UK, Slovenia, Singapore and the US.
Acquiring a global exchange will greatly accelerate the expansion of Robinhood Crypto worldwide. Bitstamp holds more than 50 active licenses and registrations worldwide and will bring Robinhood customers across the EU, UK, US and Asia.
With Bitstamp’s institutional offerings such as the Bitstamp-as-a-service white label solution, institutional lending and staking, Robinhood will enter the space with active and established relationships, infrastructure and industry-leading products. Bitstamp’s core spot exchange, with more than 85 tradable assets and products such as staking and lending, will enhance Robinhood’s Crypto offering.
“The acquisition of Bitstamp is an important step in the growth of our cryptocurrency business. Bitstamp’s highly trusted and long-standing global exchange has shown resilience through market cycles. By seamlessly combining customer experience with security across geographies, the Bitstamp team has built one of the strongest reputations among retail and institutional crypto investors,” said Johann Kerbrat, CEO of Robinhood Crypto. “Through this strategic combination, we are better positioned to expand our footprint outside the US and welcome institutional clients to Robinhood.”
“As the world’s longest-running cryptocurrency exchange, Bitstamp is known as one of the most trusted and transparent crypto platforms in the world,” said JB Graftieaux, CEO of Bitstamp. “Bringing Bitstamp’s platform and expertise into Robinhood’s ecosystem will provide users with an enhanced trading experience with a continued commitment to compliance, security and customer centricity.”
The Bitstamp team will join forces with Robinhood, promoting collaboration, innovation and knowledge sharing across continents. Robinhood and Bitstamp customers can expect the same level of service, security and reliability.