Robinhood to Acquire Bitstamp in $200 Million Deal

Robinhood Markets has agreed to acquire the global cryptocurrency exchange Bitstamp for approximately $200 million in cash. The deal, marking Robinhood's largest acquisition to date, aims to enhance its presence in the cryptocurrency market and attract institutional clients. Bitstamp, founded in 2011, offers a variety of crypto products and holds over 50 active licenses globally. The acquisition is expected to close in the first half of 2025, pending regulatory approval.

This strategic move positions Robinhood to compete directly with major industry players like Binance and Coinbase. The acquisition will also enable Robinhood to expand its crypto business and institutional services outside the United States, covering regions such as the EU, UK, and Asia. Despite facing regulatory challenges in the U.S., Robinhood has seen a significant rise in its stock price this year, reflecting investor confidence in its growth strategy.