Robinhood To Acquire Veteran Crypto Exchange Bitstamp

This move will allow Robinhood to compete more aggressively in the crypto exchange market.

Robinhood, the popular stock and crypto trading platform, announced it has entered an agreement to acquire Bitstamp, the veteran cryptocurrency exchange, for $200 million in cash.

Announced on June 6, the companies expect to finalize the deal during the first half of 2025. Robinhood noted that owning Bitstamp will expand its reach beyond the U.S. crypto market, with Bitstamp also boasting a significant customer base in Europe, the United Kingdom, and Asia.

“The acquisition of Bitstamp is a major step in growing our crypto business," said Johann Kerbrat, the general manager of Robinhood Crypto. "Through this strategic combination, we are better positioned to expand our footprint outside of the U.S. and welcome institutional customers to Robinhood.”

According to Robinhood CEO, Vlad Tenev, the company’s acquisition of Bitstamp will expand its crypto offerings to include a spot exchange, institutional lending, and expanded staking services.

Currently, Robinhood acts as an intermediary that sells orders to market makers, rather than executing them directly as a traditional spot exchange. Robinhood hosted $36 billion in notional crypto trading volume during Q1 2024, equating to a daily average of $400 million.

Robinhood began offering crypto trading services to European Union clients last December. The company also offers a non-custodial wallet to U.S. users and SOL staking to European customers.

Bitstamp, established in the U.K. in 2011, has consistently ranked among the top centralized exchanges by volume over the past decade. Bitstamp currently ranks 20th by 24-hour volume with $238 million, according to CoinGecko.

JB Graftieaux, Bitstamp’s CEO, noted that he and the rest of the exchange’s leadership team will retain their positions post-acquisition.

The acquisition is subject to regulatory approvals and standard closing conditions. Barclays Capital Inc. served as the exclusive financial advisor to Robinhood, while Galaxy Digital Partners LLC was the financial advisor to Bitstamp.