The cryptocurrency exchange Robinhood has entered into an agreement to acquire Bitstamp Ltd. (“Bitstamp”), a global cryptocurrency exchange founded in 2011, which has offices in Luxembourg, the UK, Slovenia, Singapore, and the US. Bitstamp is the world’s oldest running cryptocurrency exchange.
We believe crypto will fundamentally reorganize the financial system, and we’re acquiring @Bitstamp to accelerate our vision. Soon we’ll combine forces with Bitstamp’s global footprint, core spot exchange and industry-leading products like crypto-as-a-service, institutional…
— Vlad Tenev (@vladtenev) June 6, 2024
“The acquisition of Bitstamp is a major step in growing our crypto business. Bitstamp’s highly trusted and long standing global exchange has shown resilience through market cycles. By seamlessly coupling customer experience with safety across geographies, the Bitstamp team has established one of the strongest reputations across retail and institutional crypto investors,” said Johann Kerbrat, General Manager of Robinhood Crypto. “Through this strategic combination, we are better positioned to expand our footprint outside of the US and welcome institutional customers to Robinhood.”
“As the world’s longest running cryptocurrency exchange, Bitstamp is known as one of the most-trusted and transparent crypto platforms worldwide,” said JB Graftieaux, CEO of Bitstamp. “Bringing Bitstamp’s platform and expertise into Robinhood’s ecosystem will give users an enhanced trading experience with a continuing commitment to compliance, security, and customer-centricity.”
The acquisition deal is around $200 million in cash, and is expected to close in the first half of 2025.