Robinhood Acquires Crypto Exchange Bitstamp for U.S. Institutional Trading

Stock trading app Robinhood is expanding its presence in the crypto industry as it acquires cryptocurrency exchange Bitstamp.
Cointelegraph reported on the 6th (local time) that Robinhood plans to acquire Bitstamp for $200 million (about 31.1 billion yen) to enable it to serve institutional clients in the United States.
The deal is subject to regulatory approval and is expected to be finalized in the first half of 2025.
"We decided to acquire the exchange because our customers have expressed a desire for more and more cryptocurrency products," Johann Kerbrat said in a statement on the day.
Robinhood has been working to expand its cryptocurrency offerings since 2018, when it began offering trading in Bitcoin and Ethereum.
Through its acquisition of Bitstamp, Robinhood will offer institutional-grade offerings, institutional lending and staking,
It is expected that they will be able to take advantage of institutional-level services, including the Bitstamp-as-a-Service white-label solution.