Summary
- Robinhood announced it has completed the acquisition of Bitstamp for $200 million.
- Through this acquisition, Robinhood stated it will secure over 50 licenses and an institutional investor-focused customer base.
- Robinhood said that this acquisition will enable aggressive expansion of its cryptocurrency business in the European, UK, and Asian markets.
Robinhood, a stock and cryptocurrency trading platform, appears poised to expand its cryptocurrency business.
According to Cointelegraph, a cryptocurrency-focused media outlet, on the 3rd (KST), Robinhood has finalized the acquisition of Bitstamp, a cryptocurrency exchange based in Luxembourg. The reported deal amount is $200 million.
With this acquisition, Robinhood is said to have secured over 50 licenses and an institutional investor-focused customer base.
Robinhood stated, "Through this acquisition, we are set to aggressively expand our cryptocurrency business in Europe, the United Kingdom, Asia, and other markets."
Previously, on May 13, Robinhood also agreed to acquire Canadian digital asset platform WonderFi for $179 million to strengthen its presence in the Canadian market.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
