Robinhood to Acquire Bitstamp for $200 Million by Mid-2025

The management of online broker Robinhood has agreed to acquire Bitstamp, the oldest European cryptocurrency exchange, for $200 million in cash, according to Reuters.

The transaction is expected to close in the first half of 2025, pending regulatory approval.

This initiative aims to expand Robinhood’s presence in the digital asset market.

The acquisition of Bitstamp, founded in 2011 and holding 50 active licenses and registrations worldwide, positions the online broker in direct competition with Binance and Coinbase, the agency noted.

The platform will boost the growth of Robinhood’s cryptocurrency division, marking its first institutional business. Popular in Europe and Asia, Bitstamp offers more than 85 tradable assets and includes products such as staking and lending.

“We are in the early stages of our development in the EU, intending to expand beyond. The acquisition will accelerate our global expansion,” stated Johann Kerbrat, Vice President and CEO of Robinhood Crypto.

The acquisition comes at a time when the company’s cryptocurrency business is experiencing rapid growth but also facing regulatory challenges in the United States. The division’s head affirmed ongoing dialogue with regulatory bodies.

In May, Robinhood Crypto received a warning from the SEC about a potential lawsuit.

The agency sent the online broker a notice in March 2023. In its annual report, the firm disclosed that claims made in December 2022 concerned the listing of digital assets.

Back in July 2021, ahead of the company’s IPO, co-founder and CEO Vlad Tenev described digital assets as the foundation for the online broker’s future development.

On January 12, Robinhood opened the opportunity for clients in the U.S. to trade spot Bitcoin ETFs.

In April 2024, the firm officially released its cryptocurrency wallet for Android users, a year after the iOS version was launched.