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Robinhood Enters $200M Deal to Acquire Bitstamp

Robinhood Enters $200M Deal to Acquire Bitstamp

Jun 6, 2024

Robinhood Enters $200M Deal to Acquire Bitstamp

Robinhood has entered into an agreement to acquire the European cryptocurrency exchange Bitstamp for a sum of $200 million. The transaction, which is expected to close in the first half of 2025, marks Robinhood's leap into the global Bitcoin and crypto market.

Johann Kerbrat, General Manager of Robinhood Crypto, expressed the strategic nature of the acquisition: “The acquisition of Bitstamp is a major step in growing our crypto business. Bitstamp’s highly trusted and longstanding global exchange has shown resilience through market cycles.” He further added that this move would allow Robinhood to extend its services to institutional customers while expanding outside the United States.

JB Graftieaux, CEO of Bitstamp, commented on the merger, stating, “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 acquisition promises to bring together Bitstamp's global user base and Robinhood's trading platform. Bitstamp boasts over 50 active licenses and registrations, serving customers across Europe, the United Kingdom, the United States, and Asia.

The acquisition, which will be settled in cash subject to customary purchase price adjustments, is pending regulatory approvals and other customary closing conditions. Barclays Capital Inc. and Galaxy Digital Partners LLC served as exclusive financial advisors to Robinhood and Bitstamp, respectively.

The move by Robinhood to acquire Bitstamp illustrates the company’s ambition to solidify its position in the Bitcoin and crypto sector and diversify its offerings while tapping into new markets. With the acquisition poised for completion in 2025, Robinhood is set to significantly broaden its global reach and institutional trading capabilities.

Robinhood Press Release

Bitstamp Blog Post

Bitcoin Magazine Article


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