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Robinhood Markets has agreed to buy Bitstamp, a number one cryptocurrency trade, for $200 million in money. This acquisition marks Robinhood’s largest deal so far and is a part of its technique to develop its cryptocurrency choices.
Bitstamp, based in 2011, brings over 85 tradable belongings and important regulatory approvals to Robinhood’s platform. The deal will improve Robinhood Crypto’s progress and facilitate its international enlargement, particularly in Europe and Asia. Regardless of regulatory challenges within the U.S., Robinhood stays dedicated to partaking with regulators. The acquisition is anticipated to shut within the first half of 2025.
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