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Breaking News: Robinhood Set to Acquire Major Bitcoin Exchange!
Breaking News: Robinhood Set to Acquire Major Bitcoin Exchange!
Reports from Reuters indicate that Robinhood is gearing up to purchase Bitstamp, the prominent global cryptocurrency exchange.
By:
Elif Azra Güven
06.06.2024 – 11:04
Update:
10 hours ago
0
Reuters has revealed that Robinhood is in the process of finalizing a deal to acquire BITSTAMP, a key player in the global cryptocurrency market.
According to sources, the US-based trading platform Robinhood has reached an agreement to buy the UK-based cryptocurrency exchange Bitstamp for a whopping $200 million in cash.
The acquisition is poised to facilitate Robinhood’s expansion on an international scale beyond the borders of the United States, with a focus on attracting corporate clientele.
The transaction, valued at $200 million in cash, is expected to be completed in the first half of 2025, as confirmed in the official statement released by both parties.
Johann Kerbrat, Robinhood Crypto’s general manager, commented on the impending acquisition, stating:
“The acquisition of Bitstamp marks a significant milestone in the growth of our cryptocurrency operations. Bitstamp’s unwavering reputation and global presence have proven resilient across various market conditions. With this strategic merger, we are better equipped to extend our reach beyond the US and cater to our institutional clients at Robinhood.”
Established in 2011, Bitstamp, headquartered in the UK, has solidified its position as one of the premier cryptocurrency exchanges in Europe.
*Please note that this is not financial advice.
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