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This acquisition will bring Bitstamp's globally-scaled crypto exchange to Robinhood, with retail and institutional customers across the EU, UK, US and Asia.
Robinhood Markets, Inc. ("Robinhood") has reached an agreement to acquire Bitstamp Ltd. ("Bitstamp"), a global cryptocurrency exchange founded in 2011 with offices in Luxembourg, the UK, Slovenia, Singapore, and the US. This strategic acquisition will bring Bitstamp's globally-scaled crypto exchange to Robinhood, with retail and institutional customers across the EU, UK, US and Asia. The deal is expected to close in the first half of 2025 subject to regulatory approvals.
Robinhood sees that the combination better positions Robinhood to expand outside of the US and will bring a trusted and reputable institutional business to Robinhood.
With Bitstamp holding over 50 active licenses and registrations globally, Robinhood Crypto will significantly accelerate its worldwide expansion. The acquisition also introduces Robinhood's first institutional business, as Bitstamp has been trusted by its institutional clients for reliable trade execution, deep order books, and industry-leading API connectivity. Bitstamp's other institutional offerings, such as the white label solution Bitstamp-as-a-service, institutional lending, and staking, will allow Robinhood to enter the space with active and established relationships, infrastructure, and industry-leading products. Additionally, Bitstamp's core spot exchange, with over 85 tradable assets, and products like staking and lending, will enhance Robinhood's Crypto offering.
Johann Kerbrat, General Manager, Robinhood Crypto.
"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," said Johann Kerbrat, General Manager of Robinhood Crypto. "Through this strategic combination, we are better positioned to expand our footprint outside of the US and welcome institutional customers to Robinhood."
JB Graftieaux, CEO, Bitstamp
"As the world's longest running cryptocurrency exchange, Bitstamp is known as one of the most-trusted and transparent crypto platforms worldwide," said JB Graftieaux, CEO of Bitstamp. "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 Bitstamp team will join forces with Robinhood, fostering collaboration, innovation, and knowledge sharing across continents. Customers of both platforms can expect the same level of service, security, and reliability as the companies move forward with a commitment to maintaining transparency throughout the process.
As reported by Reuters, Robinhood received a Wells Notice from the SEC early last month over crypto tokens traded on Robinhood;'s platform. On May 6th, Robinhood published a respose to the Wells Notice, which can be viewed here. “After years of good faith attempts to work with the SEC for regulatory clarity including our well-known attempt to ‘come in and register,’ we are disappointed that the agency has decided to issue a Wells Notice related to our U.S. crypto business,” said Dan Gallagher, Chief Legal, Compliance and Corporate Affairs Officer, Robinhood Markets, Inc. “We firmly believe that the assets listed on our platform are not securities and we look forward to engaging with the SEC to make clear just how weak any case against Robinhood Crypto would be on both the facts and the law.”
Barclays Capital Inc. served as exclusive financial advisor to Robinhood, while Galaxy Digital Partners LLC served as exclusive financial advisor to Bitstamp.
