Trading platform Robinhood has acquired crypto exchange Bitstamp for $200 million subject to regulatory aproval.
Bitstamp, founded in Luxembourg in 2011, is one of the world’s oldest crypto exchanges. It was bought in 2018 by a Belgian investment company NXMH, with Ripple taking a stake last year. Licensed by DNB, the company also operates in the Netherlands.
Robinhood has been listed since 2021, and has 13.7 million users. With Bitstamp, Robinhood hopes to strengthen its position in Europe.
“The acquisition of Bitstamp is an important step in the growth of our crypto business,” Robinhood director Johann Kerbrat said in a statement. “The Bitstamp team has built one of the strongest reputations among private and institutional crypto investors.”
“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.”
Bitstamp also has offices in the UK, Slovenia, Singapore, and the US.
The deal is is expected to close in the first half of 2025.
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