The Crypto Roundup: 10 June 2024 |

The Crypto Roundup: 10 June 2024 |

The Crypto Roundup: 10 June 2024 | PlatoBlockchain Data Intelligence. Vertical Search. Ai.

Commission-free trading platform Robinhood Markets (HOOD) has agreed to acquire U.K.-based cryptocurrency exchange Bitstamp for $200 million in an all-cash deal that’s expected to close in the first half of 2025.

The acquisition was advised on by Barclays Capital and Galaxy Digital, and was touted as a “major step” in Robinhood’s growth by Johann Kerbrat, general manager of Robinhood Crypto, who added Bitstamp’s “highly trusted and long standing global exchange has shown resilience through market cycles.”

Kerbrat added the move better positions the exchange to expand its footprint to outside of the United States and welcome institutional customers.

Founded in 2011, Bitstamp is one of the largest cryptocurrency exchanges in Europe, offering spot trading for over 85 cryptocurrencies and offering institutional lending and staking services, among others. Bitstamp is also one of the most regulated exchanges, with over 50 licenses and registrations globally along with regular audits.

This acquisition comes after Robinhood started offering crypto trading to clients in the European Union in December 2023.

Time Stamp:

More from CryptoCompare