In a statement made by Robinhood, it was reported that the company reached an agreement to acquire Bitstamp.
In the statement, it was emphasized that this strategic acquisition will enable the company to better position itself outside the US, and will also significantly accelerate Robinhood Crypto's worldwide expansion.
In the statement, it was stated that the acquisition, which will be made for approximately 200 million dollars in cash, is expected to be completed in the first half of 2025.
Johann Kerbrat, General Manager of Robinhood Crypto, stated that the acquisition of Bitstamp is an important step in growing the company's crypto business, "Thanks to this strategic merger, we are in a better position to expand our footprint outside the US and invite institutional customers to Robinhood."
"Bringing Bitstamp's platform and expertise to the Robinhood ecosystem will provide users with an enhanced trading experience with a continued commitment to compliance, security and customer centricity," said Jean-Baptiste Graftieaux, Chief Executive Officer of Bitstamp, noting that they are known worldwide as one of the most trusted and transparent crypto platforms.