The acquisition deal is valued at $200 million and is expected to close in the first half of 2025.
According to Reuters, the popular trading app Robinhood is set to acquire UK-based exchange Bitstamp for $200 million. The acquisition is expected to close in the first half of 2025.
Barclays Capital Inc. and Galaxy Digital Partners LLC served as advisors to Robinhood and Bitstamp on the transaction.
Founded in 2011, Bitstamp is one of the largest digital asset exchanges in Europe. With this move, Robinhood aims to expand its global presence in the digital asset sector and attract institutional clients.
Johann Kerbrat, General Manager of Robinhood Crypto, emphasized that the acquisition will help Robinhood grow its digital asset business. Kerbrat stated:
“Through this strategic combination, we are better positioned to expand our footprint outside of the U.S. and welcome institutional customers to Robinhood.”
The current CEO of Bitstamp, JB Graftieaux, and the leadership team will remain in place after the acquisition.
