American online broker Robinhood announced the acquisition of the cryptocurrency exchange Bitstamp. The $200 million deal is expected to be completed between January and March 2025.
Consultants from Barclays Capital and Galaxy Digital participated in the sale negotiations, providing their expert services.
The acquisition of Bitstamp is an important step for the development of Robinhood's crypto business, which, according to Johann Kerbrat, General Manager of Robinhood Crypto, will allow the broker to attract more institutional clients.
JB Graftieaux, CEO of Bitstamp, emphasized that integration with the Robinhood ecosystem will provide his exchange's customers with new opportunities to enhance their trading experience in the market.
Bitstamp, one of the largest centralized cryptocurrency exchanges in Europe, has been operating since 2011 and shows stable results. In the last 24 hours, the trading volume on the platform amounted to $232 million.
It is also worth noting that Robinhood recently received a notice from the U.S. Securities and Exchange Commission (SEC), stating that the agency intends to sue the company for violating securities laws.
