Robinhood buys cryptocurrency exchange Bitstamp for $200 million

According to the purchase agreement between Robinhood and Bitstamp, the $200 million purchase price will be paid entirely in cash.

In June 2023, Robinhood acquired credit card startup X1 for $95 million. After 1 year, the company announced a new acquisition. According to the information provided by Robinhood, the company is buying the cryptocurrency exchange Bitstamp for $200 million.

According to the acquisition agreement between Robinhood and Bitstamp, the $200 million purchase price will be paid in cash. This is the largest acquisition made by Robinhood to date. The purchase agreement will be completed in the first half of 2025.

With the acquisition of Bitstamp, Robinhood became a competitor to cryptocurrency exchanges such as Binance and Coinbase. After the announcement, Robinhood’s shares rose 3.4 percent. The deal is expected to accelerate the growth of Robinhood Crypto.

Founded in 2011 by Damijan Merlak and Nejc Kodric in London, Bitstamp stands out as a popular cryptocurrency exchange in Europe and Asia. It should be noted that Bitstamp, whose investors include Pantera Capital and Ripple, has collected over $12 million in investments to date.

Stating that they are new to Europe and are excited to continue to grow here, Robinhood Crypto General Manager Johann Kerbrat added that the acquisition of Bitstamp will accelerate their global expansion.