CDS Crypto News Robinhood $200 Million Acquisition Deal Proceeds Despite SEC Wells Notice
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Robinhood $200 Million Acquisition Deal Proceeds Despite SEC Wells Notice

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Robinhood's $200 Million Acquisition Deal Proceeds Despite SEC Wells Notice

Robinhood $200 Million Acquisition Deal Proceeds Despite SEC Wells Notice

Stock trading app Robinhood is set to broaden its footprint in the cryptocurrency industry with the acquisition of Bitstamp, a prominent cryptocurrency exchange, for $200 million.

This acquisition will allow Robinhood to extend its services to institutional clients within the United States. Subject to regulatory approval, the deal is anticipated to close in the first half of 2025.

According to Johann Kerbrat, General Manager of Robinhood Crypto, the decision to acquire Bitstamp stems from a growing customer demand for more cryptocurrency products. Speaking to the Wall Street Journal on June 6, Kerbrat noted, “Everything we’ve been doing in the past few years has been driven by our customers’ engagement, indicating their desire for more crypto products.”

Robinhood Enhances Crypto Offerings Amid Regulatory Scrutiny

Has been steadily expanding its cryptocurrency offerings since 2018, beginning with Bitcoin and Ether trading. The Bitstamp acquisition will provide Robinhood access to institutional-grade services, including institutional lending, staking, and the Bitstamp-as-a-service white-label solution.

Kerbrat highlighted the significance of this acquisition in bolstering firm’s crypto offerings, stating, “Bitstamp’s well-established and globally trusted exchange has demonstrated resilience through various market cycles. By integrating a superior customer experience with robust safety measures across regions, the Bitstamp team has built one of the most respected reputations among both retail and institutional crypto investors.”

Founded in 2011, Bitstamp boasts over 50 active regulatory licenses and registrations worldwide. Despite the forthcoming acquisition, Bitstamp will continue to operate under its own brand.

Robinhood $200 Million Acquisition Deal Proceeds Despite SEC Wells Notice

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